Today the central bank to carry out 140 billion reverse repurchase restart 14 day repurchase

Beijing In August 24, BFD coupler according to the central bank website news, the people's Bank on Wednesday (August 24th) interest rate tender were carried out 90 billion yuan repurchase operation period of 7 days, the successful rate was 2.25%; reverse repurchase operations 50 billion yuan 14 days period, the successful rate was 2.40%, the last time the Central Bank held 14 days repurchase for the year February 6th. fixing socket

Local bank capital profitability sprint IPO blood pressure on Valuation

Jiangyin agricultural firm stock officially released more than a dozen city commercial agricultural firms listed "queue" Local bank capital transfusion sprint IPO Asset quality and profitability pressure on its valuation Under the weight of an emergency capital, local banks by means of supervision and release of Dongfeng A shares of IPO, another wave of orgasm. Jiangsu Jiangyin rural commercial bank Limited by Share Ltd in 24 officially in the Shenzhen SME Board issued shares, the issue price of 4.64 yuan / share, 209 million shares to be issued. The bank is not only in the A shares listed on the first county agricultural firms, but also after the Bank of Jiangsu and Bank of Guiyang, since August third in the A shares listed on the local bank. In addition to the above three companies already listed local banks, the reporter combing public information discovery, Shanghai bank, Hangzhou bank, Jiangsu Wujiang rural commercial bank, Jiangsu Wuxi rural commercial bank, Jiangsu Changshu rural commercial bank, Jiangsu Zhangjiagang rural commercial bank and have already passed the trial will be IPO. In addition, many have been recently in the H-share listed city commercial banks also have committed to the return of A shares market. In Hongkong said the assets and liabilities of Bank of Chongqing general manager Li Yingjun the day before, the Bank of Chongqing has been in the queue in the A shares, A+H shares listed on both sides of the plan. The Bank of Qingdao recently also on the Hong Kong Stock Exchange announcement said, intends to apply for the initial public offering of A shares and listing. In addition, Zhengzhou bank, merchants bank, Shengjing bank also has been in the queue in A stock market. Since the second half of last year, the Commission will significantly accelerate the domestic bank listing approval, which for many in the past to rely on private placement and issued two capital bonds etc. the blood of the local banks, can be described as a "welcome rain after a long drought". At present, the domestic banking sector as a whole is facing great pressure of capital. The latest data show that the end of the two quarter of 2016, commercial banks weighted average core capital adequacy ratio was 10.69%, down 0.27 percentage points from the previous quarter; weighted average capital adequacy ratio was 11.10%, down 0.28 percentage points from the previous quarter; weighted average capital adequacy ratio was 13.11%, down 0.25 percentage points from the previous quarter. Compared with large banks and joint-stock banks, city commercial banks and agricultural firms face more vigorous capital replenishment needs. Data show that the Bank of Jiangsu cut the end of the first half of the capital adequacy ratio was 11.23%, further lower than at the end of the 11.54%; eager to return to A shares "blood" of the Chongqing agricultural firm's capital adequacy ratio continued to decline since 2014, at the end of the first quarter, the bank's capital adequacy ratio has fallen to 12.02%, core capital adequacy ratio fell to 9.85%. It is worth noting that, at the Bank of Zhengzhou plans to return to A shares at the same time, the board also adopted a resolution on the line before the two capital bond issue size from 3 billion yuan to 5 billion yuan, which will see an urgent need to replenish capital. Visiting Renmin University of China Chongyang Institute of Finance researcher Dong Ximiao accept the economic reference news "reporter said, in the past the bank to maintain a certain profit growth, through the channels to supplement the capital surplus profit turns this endogenous to supplement the capital, but the overall profit growth of the banking sector is rapidly declining, endogenous capital replenishment can not keep up, by IPO the foreign channels to replenish capital is very necessary. The valuation of A shares than the H shares higher, so some already in the H-share listed mainland banks will be listed on the A shares at the same time impulse." Dong Ximiao said, now the capital market performance is relatively stable, regulators attitude is more open, there is also a time for these banks listed. However, the listing process of this batch of local banks or non Everything is going smoothly. Previously, last month, the Commission has stressed that the static industry should select the issuer issued by the China Securities Index Co, the average price earnings ratio as the reference for the issue. In view of this, the Bank of Jiangsu, Jiangyin rural commercial and agricultural firms Wuxi because of high price earnings ratio hit release was delayed fate. In addition, regulated by the regulatory authorities, the final issue of the size of the three banks compared with the previously announced plans to reduce the size of the issue is not small. In addition to the capital market itself and the market factors, future earnings prospects of city commercial banks also have a certain pressure on the valuation. Dong Ximiao said, as a regional city commercial bank, the scale is relatively small, the profit source is relatively single, generally the profit is more dependent on the traditional interest income and intermediate business accounted for relatively low. In the background of the economic downturn, the city firm how to maintain sustainable profitability is a big problem. At the same time, there is still a gap between the level of corporate governance of small and medium-sized banks and listed banks mature, its relatively extensive management will also face challenges in the listing. In particular, the city firm exists high concentration loan industry, which virtually increases the business risk. Jiangyin agricultural firms in the prospectus said, Jiangyin area manufacturing based enterprises, in manufacturing decline deflation its profitability, and the Jiangyin area for many small and medium enterprises, financing more take mutual, UNPROFOR, guarantee ring formation cause of enterprise credit risk contagious among companies. The general unsecured loan guarantees or collateral support, when the borrower debt servicing capacity difficulties, once the guarantor of the financial situation deteriorated, the bank may face the risk of loans can not be collected in full or in part. Data from the public point of view, the manufacturing line of several agricultural firms listed in the proportion of loans is generally higher, and these banks are facing the situation of rising non-performing loan ratio. "As a regional bank, a higher concentration of loans is the real objective existence. However, local banks can continue to understand regional and understand the customers' principle, to play its own advantages, the strategic positioning of more targeted, focusing characteristics of the industry and customers in specialized and differentiated in terms of force." Dong Ximiao said. halfen channel

Useful staging sales staff to users to night only for a "agreement"

In today's fast-paced society, ringlock scaffolding some verbal agreement has become more and more casually excuse, steel chamfer not to be paid attention to. For example, a friend said "the next encounter between the dinner", who all know this is not really the greeting to have dinner. Solemnly agreed more and more scarce, small talk after everyone back to the world, the why why. However, one thing Mr. Wang Shenzhen people recently encountered has Poxian positive energy. Recently, the public Wang Road the road over a mobile phone shop, think of the far north old mother has been talking to an intelligent mobile phone. Just over two days old mother's birthday in Shenzhen, Mr. Wang can't go back, we would like to take this opportunity to send filial piety. However, Mr. Wang is an ordinary workers, the income is not high, just want to try the installment through useful phases for new mobile phone, past the wind control trial. But because the factory accident can not continue to apply for a verbal agreement later, after coming in a hurry to go. This is a day to go, anyway also not finishing the procedures, Mr. Wang had put the matter behind. Wait until ten pm again pass by the mobile phone shop, found that mobile phone store is still open, Mr. Wang remembered this, walked into the store a look, find useful staging sales are still waiting for Mr. wang. It is understood that the mobile phone shop in the normal closing time is nine in the evening, the store useful staging salespeople know Mr. Wang to buy this mobile phone in order to catch in the mother's birthday is a special case of filial piety. Therefore, to Mr. Wang's "later" as a true, special waiting in the store waiting for Mr. wang. In doing so, Mr. Wang moved, in the sales staff under the guidance of fast mobile phone payment after finishing the procedures. But Mr. Wang's mother, also received a birthday in intelligent mobile phone Mr. Wang sent by logistics. Figure: Mr. Wang thanks for useful staging sales personnel patience Mr. Wang later gave the sales staff sent a letter of thanks, Mr. Wang said, with our northern words, the sales too "shaft", it is commonly said, did not think she was really, but without the salesman's "axis", the old mother may not receive mobile phone, therefore, to solemnly thank the "axis" sales. After the reporter found the useful staging of the sales staff, to show she simply said: "because the day and customer commitment, not." Such trustworthy netizens caused extensive hot debate, netizens have lamented now such a salesperson is better than panda David "," once thought, computer, mobile phone sales of cosmetics special love pit customers, the original can be so heart warming!" Jinan University Institute of economic and social research, Professor Zhang believes that this news sparked heated debate, on the one hand is to return to call people to the Chinese nation trustworthy traditional culture, on the other hand, also once again shows that improve the quality of service, customers, in order to win customers. At present, consumer finance has penetrated into the daily life of ordinary people, large cars, small mobile phone, can the consumer finance installment purchase, inclusive income is not high in people. Sales and service industry, do not treat the difference between customer. lifting insert

P2P regulatory rules issued: intermediary institutions shall not provide financial guarantees and insurance interest

Original title: P2P regulatory Association released: intermediary institutions shall not provide financial guarantees and insurance interest In August 24th, adjustable base jack the CBRC issued the "Interim Measures for the business management information network lending intermediaries (assessment draft)". The "Interim Measures" provisions, P2P shall not engage in self financing, shall not provide guarantees or insurance interest to the lender, will not split the project financing, bank financing, securities may not be offered management, funds, insurance or trust products and other financial products, nor engage in the congregation to raise equity or real to raise public business. lifting insert

UnionPay card to expand overseas high-end card rights market

China News Service August 24 Beijing Xinhua (reporter Liu Changzhong) 24 reporters from Chinese UnionPay was informed that currently issued a total of more than 5 billion 400 million of the world UnionPay cards, high-end card groups increased. From now until July 31, cuplock scaffolding 2017, Japan will have more than and 170 businesses may be issued for the domestic and overseas UnionPay platinum and diamonds provide exclusive benefits and services card holders. Chinese UnionPay official said, with the expansion of overseas UnionPay card acceptance scope, acceptance of the popularity of the Internet, the convenience of subdivision highlights, cardholders service capacity is also growing. At present not only Chinese within the 17 national banks have issued UnionPay UnionPay card, high-end, Hong Kong and Macao Chinese Korea new card is also the main push high-end card. Hong Kong, South Korea, Japan, Southeast Asia, a large number of UnionPay cards issued market rights in the construction of high-end card platform, as an important content for UnionPay card card service system. This platform not only for the visiting high-end cardholders provide exclusive services, such as Hongkong and South Korea, according to local issue UnionPay cards offer additional interest in high-end. According to reports, high-end overseas UnionPay card equity platform is mainly divided into two parts: one is global support, airport lounge, airport and other value-added services; two is the special interests of global and local businesses to big businesses. Japan's high-end UnionPay card equity platform has three major characteristics: one is to cover more diversified business type, including local art galleries and museums and high-end restaurants in favor of Michelin; two is the interests of more rich content, including discounts, VIP VIP rooms, free parking, Chinese guide three is obtained; the rights of way is convenient, the cardholder can provide information about the landing site, the Japanese, English, simplified Chinese, traditional Chinese Chinese, Korean 5 languages, filed an appointment to apply for online merchants. Japan has 80 thousand sets of ATM with UnionPay card cash, accounting for more than half of the total number of Japanese ATM; accept cup card spending nearly 50 million businesses, covering the duty-free shops, department stores, appliance chain stores, convenience stores, drug stores etc.. Since last year, China UnionPay card payment has foreign tourists accounted for the largest market share in Japan's credit card spending. (end) fixing socket

The Interim Measures for the business management information network lending agency (Quan Wen)

In order to strengthen the supervision and management of the network credit information intermediary business activities, cast in sockets and promote the healthy development of network lending industry, lifting anchor according to the people's Republic of China "law", "PRC Company Law", "PRC Contract Law" and other laws and regulations, China CBRC, the Ministry of industry and information technology, Ministry of public security, National Internet Information Office has formulated the "Interim Measures for business activity management information network lending agency". Approved by the State Council, are hereby promulgated and effective as of the date of promulgation. The chairman of China Banking Regulatory Commission: Shang Fulin The people's Republic of China Ministry of industry and information technology minister Miao Wei Minister of the Ministry of public security of the people's Republic of China: Guo Shengkun Director of the state Internet Information Office: Xu Lin August 17, 2016 <strong> Network credit information agency</strong> <strong> business activity management Interim Measures</strong> general provisions Article 1 in order to regulate the network credit information agency business activities, protect the legitimate rights and interests of the lender and the borrower, the network credit information intermediaries and related parties, and promote the healthy development of network lending industry, small and micro enterprises to meet the financing needs of individuals and the better, according to the general requirements of "guidance" to promote the healthy development of Internet banking is proposed and the supervision principle, according to the people's Republic of China "law", "PRC Company Law", "PRC Contract Law" and other laws and regulations, to develop this approach. The second is engaged in lending information intermediary business activities in Chinese territory, the application of this approach, unless otherwise stipulated in laws and regulations. The term network lending refers to the individual and between individuals through the Internet platform to achieve the direct lending. The individual includes natural persons, legal persons and other organizations. Network credit information intermediaries is to set up the financial information intermediary company specializing in network information intermediary business lending activities. This kind of mechanism to the Internet as the main channel for the borrower and the lender (the borrower) provides information collection, information disclosure, credit evaluation, information exchange, lending matchmaking services to achieve direct lending. The local financial supervision department of the Measures refers to the provincial people's government to undertake local financial supervision departments. Third network credit information agency in accordance with the law, integrity, voluntary, fair principle provides information service for the borrower and the lender, safeguard the legitimate rights and interests of loan and the borrower shall not provide credit services, shall not directly or indirectly regulated funds, not illegal fund-raising, and shall not damage the national interests and public interests. The borrower and the Lender Loans follow voluntary, honesty, responsibility, risk principle assume credit risk. Network credit information intermediaries assume objective, real, comprehensive and timely information disclosure responsibilities, do not assume loan default risk. Article fourth in accordance with the general requirements of "guidance" to promote the healthy development of Internet banking "to encourage innovation, risk prevention, while avoiding disadvantages, and healthy development" and "law supervision, appropriate supervision, classification regulation, regulatory coordination, innovation supervision supervision principle, implement the management responsibility of parties. The banking supervision institution and its agencies responsible for the network credit information agency business supervision and management system, and implement the behavior regulation. The provincial people's government is responsible for the area of network lending intermediary institutions supervision information. The Ministry of industry and information technology of the network credit information agency business activities involving Telecom regulation. Take charge of the Ministry of public security information network lending agency Internet service safety supervision, investigate and deal with violations of network security regulation of illegal activities in accordance with the law, against the network lending involved financial crime and related crimes. National Internet information office is responsible for supervision of financial information services, Internet information service. The second chapter for the record management Fifth to carry out the network lending information intermediary service network information intermediary lending institutions and their branches shall, after receiving its business license, within 10 working days to carry materials related to the industrial and commercial registration of local financial supervision departments for registration. Local financial supervision department is responsible for the registration for the network credit information agency. Local financial supervision departments shall submit registration materials are available in the network credit information agency when to be accepted, and in the provinces (autonomous regions and municipalities) to complete the registration formalities within the prescribed time limit. The recognition and evaluation of registration does not constitute a business capacity, the network credit information agency compliance, credit status. Local financial supervision departments have the right in accordance with the measures and regulations to assess the classification of network credit information intermediaries for registration, and timely registration information and the classification results of the public on the official website. Network credit information intermediary agencies to complete local financial supervision department shall apply for registration, telecommunications business license in accordance with the relevant provisions of the relevant departments in charge of communications; failing to apply for telecommunications business license, shall not carry out the intermediary business credit information network. Network credit information intermediary registration, evaluation of classification of specific rules shall be formulated separately. Sixth institutions to carry out the network credit information intermediary business, should be in the business scope of network lending intermediary information, laws and administrative regulations except. Change registration matters seventh borrowing information network intermediaries shall, within 5 working days to the industrial and commercial registration within the local financial supervision departments report and record information change. Article eighth the network credit information filing agency intends to terminate the information network lending intermediary services, should be in the termination of the business in advance at least 10 working days, inform the industrial and commercial registration to the local financial supervision departments, and handle the registration. Network credit information intermediaries by filing registration according to law is dissolved or declared bankrupt according to law, the liquidation in accordance with the law, by the industrial and commercial registration of local financial supervision department canceled the record. The third chapter of business rules and risk management Ninth network credit information agency shall perform the following obligations: (a) according to the laws and regulations of the contract to provide direct credit information for the lender and the borrower of the collection, screening and screening, online publishing, credit rating, loan matching, financing consultation, online dispute resolution and other related services; (two) to the lender and the borrower's qualifications, the authenticity of the information and financing the authenticity and legality of the necessary audit; (three) to take measures to prevent fraud, fraud or other damages that the lender benefits, timely announcement and termination of lending activities related to network; (four) continue to carry out online lending risk knowledge popularization and education activities, strengthen information disclosure, lead by people involved in lending to small decentralized way, to ensure that the lender is fully aware of credit risk; (five) required to submit the relevant information in accordance with the relevant laws and regulations and the network lending regulations, including network lending claims and liabilities related information in a timely manner to the relevant departments to submit the registration and statistics; (six) the safekeeping of the lender and the borrower's information and transaction information, shall be deleted, tampered with, not illegal trading, disclosure of the lender and the borrower's basic information and transaction information; (seven) performance of anti money laundering customer identification, suspicious transaction reports, customer identity information and transaction records preservation and anti terrorist financing obligations in accordance with the law; (eight) cooperate with relevant departments to do the investigation of illegal financial crime prevention work; (nine) do the Internet content management, network and information security related work in accordance with the relevant requirements; (ten) banking supervision institution of the State Council and the industrial and commercial registration obligations stipulated by the provincial people's government. Tenth network lending information intermediary agencies shall not engage in or entrusted to engage in the following activities: (a) for their own self financing or disguised as; (two) funds, accept the lender directly or indirectly regulated; (three) to provide direct or indirect guarantees or promises guaranteed security interest to the lender; (four) or by their entrusted, authorized third party physical places outside the Internet, fixed telephone, mobile phone and other electronic channels for publicity or promotion of project financing; (five) loans, but otherwise prescribed by any law or regulation; (six) the duration of the project financing will be split; (seven) by offering financial products to raise funds, consignment financial, brokerage and information management, funds, insurance and other financial products and trust products; (eight) to carry out asset securitization business or to realize the transfer of creditor's rights behavior, asset securitization, asset package trust assets, fund shares and other forms of; (nine) in addition to the relevant laws and regulations and regulations allow network lending, and other investment institutions, sales agents, brokerage business in any form, mixing, binding agent; (ten) fiction, exaggerated financing project authenticity, earnings outlook, defect and risk to conceal the financing of the project, using ambiguous language or other deceptive means such as false or one-sided propaganda promotion, fabricating and spreading false information or incomplete information of damage to business reputation of others, lenders or borrowers are false; (eleven) to borrowing for investment stocks, with capital, OTC futures contracts, structured products and other derivatives of high risk financing provides information intermediary service; (twelve) in equity to raise public business; (thirteen) other activities prohibited the laws and regulations of network lending. Eleventh participate in the network lending to the lender and the borrower shall verify the information network lending intermediaries registered users real name. Twelfth the borrower shall fulfill the following obligations: (a) provide true, accurate and complete information and financial information users; (two) provide information on all outstanding loan lending network information intermediaries; (three) to ensure the authenticity and legality of project financing and the use of loan funds, in accordance with the agreed purposes, shall not be used for other purposes such as lending; (four) in accordance with the contract to the lender to truthfully report or may have important information affecting the lender rights; (five) ensure that itself is matched with the amount of borrowing repayment ability and repayment in accordance with the contract; (six) other obligations stipulated in loan contracts and related agreements. Thirteenth the borrower may not engage in the following activities: (a) by intentionally changing identity, project financing, project financing fictitious exaggerated earnings prospects in the form of loan fraud; (two) at the same time through multiple network credit information agency, or by changing the name of the project, non substantive change etc. the content of the project, to repeat the same financing project financing; (three) public places outside the network lending intermediary information released the same information project financing; (four) have been found to provide network credit information intermediary services contains the measures specified in section tenth, are still trading; (five) the relevant laws and regulations and lending regulations prohibit other activities engaged in. Fourteenth participate in the network lending lenders should have investment risk awareness, risk identification ability, non guaranteed financial products investment experience and familiar with the internet. Fifteenth participate in the network lending lender shall fulfill the following obligations: (a) provide true, accurate and complete identity information to the network credit information agency; (two) lend money for the legitimate source of funds; (three) understanding of credit risk financing project, confirm with the corresponding risk perception and tolerance; (four) responsible for lending interest loss; (five) other obligations stipulated in loan contracts and related agreements. Sixteenth network credit information agency of physics at a place other than the Internet, fixed telephone, mobile phones and other electronic channels only credit information collection, verification, tracking the credit collateral management, risk management and network lending regulations clearly part of the necessary business links. Seventeenth network lending amount should be mainly small. Network credit information agency shall, according to the risk management ability of the organization, control of the same borrower in the same network lending platform and information intermediaries in different network lending information intermediary platform loan balance limit, to prevent credit risk concentration. With a natural person in the same network lending information intermediaries platform loan balance does not exceed the ceiling of 200 thousand yuan; the same legal persons or other organizations in the same network lending information intermediaries platform loan balance does not exceed the ceiling of 1 million yuan; the same natural person in different network lending platform information intermediary loan total balance more than 1 million yuan; the same legal persons or other organizations in different network lending platform information intermediary loan total balance is not more than 5 million yuan. Eighteenth network credit information agency shall, in accordance with the national network security and the relevant provisions of the national information security level protection system, carry out the information system classification and grading test, with perfect firewall, intrusion detection, data encryption and disaster recovery network security infrastructure and management system, the establishment of information technology management, technology and risk management the audit of the system of science and technology, the allocation of adequate resources, take the stable operation of perfect management control measures and technical means to ensure the security of information system, information security protection of lenders and borrowers. Network credit information agency shall record and retain the debit online log information, interactive information content data retained from a period of loan contract expires within 5 years; at least every two years to carry out a comprehensive safety assessment, acceptance of information security and auditing departments of the state or industry. Network credit information intermediaries established within two years, shall establish or use of facilities application level disaster recovery system for its business scale matching. Nineteenth network lending information intermediary agency shall set up a raise for a single financing project, the longest no more than 20 working days. Twentieth the borrower to pay the principal and interest shall be returned to the lender all. Network credit information agency shall, with the lender and the borrower agreed otherwise cost standard and payment method. Twenty-first network credit information agency should strengthen business cooperation with the financial credit information database operation mechanism, credit institutions, in accordance with the law, and use the relevant financial credit information query. The twenty-second parties involved in the lending network information intermediary business activities, the need for the lender and the borrower's basic information and transaction information such as the use of electronic signature and electronic authentication, shall comply with the provisions of laws and regulations, legal protection of data integrity, and electronic signature, electronic authentication. Network credit information agency to use third party certification system, shall conduct regular assessment of the third party certification authorities, to ensure the safe and reliable and independent certification. Twenty-third network credit information agency should take proper methods and techniques, record and save network lending business data, data backup. The preservation period shall comply with the laws and regulations and the relevant provisions of the regulatory network lending requirements. The loan contract expires shall be kept for at least 5 years. Twenty-fourth network credit information agency business shall be suspended or terminated at least 10 working days in advance through the official website and other effective channels to the lender and the borrower announcement, and by mobile phone and telephone channels to inform the lender and the borrower. Network credit information intermediary business to suspend or terminate, does not affect the lending contract the parties have signed the relevant rights and obligations. Network credit information agency for dissolution or bankruptcy shall be terminated, dissolution or bankruptcy, and properly handle the existing lending business has been set, the liquidation shall be handled in accordance with the provisions of relevant laws and regulations. Network credit information agency liquidation, the lender and the borrower of funds belonging to the lender and the borrower, does not belong to the network credit information agency property, not included in the liquidation of property. The fourth chapter of the lender and the borrower protection Twenty-fifth without authorization of the lender, borrowing information network intermediaries shall not in any form on behalf of the lender to exercise decision-making. Twenty-sixth network credit information agency shall, to the lender eye-catching way to prompt network lending risks and prohibit sexual behavior, and confirmed by the lender. Network credit information agency shall conduct a due diligence assessment on the lender's age, financial status, investment experience, risk preference, risk tolerance, risk assessment may not provide trading services to non lenders. Network credit information agency shall, according to the risk assessment results in the implementation of hierarchical management to the lender, set the dynamic adjustment of lending and lending restrictions limit standard. Twenty-seventh network lending information intermediary institutions shall strengthen the lender and the borrower information management, to ensure that the lender and the borrower information collection, processing and use of legitimacy and security. Network credit information intermediaries and funds depository institutions, other types of outsourcing services shall be carried out to the lender and the borrower information collection process, without the lender and the borrower to the lender and the borrower shall not provide information for outside services provided to. The information collected in the territory of China loan and the borrower for storage, processing and analysis shall be carried out in the territory of Chinese. Unless otherwise provided by laws and regulations, the network credit information agency shall provide domestic lenders and borrowers information to overseas. Twenty-eighth isolation management network lending information intermediary agencies shall adopt their own funds and lenders and borrowers of funds, and select qualified banking financial institution as the lender and the borrower's funds depository institutions. Twenty-ninth lenders and borrowing network information intermediaries between the lender and the borrower, the borrower and the lending network between information intermediaries between the disputes can be solved by the following ways: (1) self reconciliation; (two) request the industry self-discipline organization mediation; (three) department to apply for arbitration to the arbitration; (four) filed a lawsuit to the people's court. The fifth chapter information disclosure Thirtieth network credit information agency shall, in its official website to the lender to the borrower full disclosure of basic information, basic information, project financing risk assessment and possible risk, has outstanding case matching results and other relevant information using financing project funds. The content of disclosure shall comply with relevant provisions of laws and regulations on state secrets, business secrets and personal privacy. Thirty-first network credit information agency shall timely disclosure of the agency lending program management information set on its official website prominently. Network credit information management agency should column information disclosure activities based on its official website, regularly in the form of announcement to the public disclosure of the annual report, the relevant laws and regulations, network lending regulation. Network credit information agency shall hire an accounting firm on a regular basis the lender and the borrower depository of funds, information disclosure, information technology infrastructure security, compliance management and other key aspects of the implementation of the audit, and shall employ qualified information security evaluation and certification agencies periodically conduct evaluation and certification of information security audit and disclosure. Evaluation of certification results to the lender and the borrower. Network credit information agency should introduce law firms, information system security evaluation and three party organizations, the network information agency compliance and assess the situation of the sound information system. Network lending information intermediaries should be regular information disclosure announcement documents and related documents for future reference to the industrial and commercial registration to local financial regulators to house provisioning for public inspection. Thirty-second network lending information agency directors, supervisors and senior management personnel shall perform their duties faithfully and diligently, to ensure that the disclosure of information is true, accurate, complete, timely, fair, no false records, misleading statements or major omissions. The borrower shall cooperate with the investigation and verification of information network lending intermediaries and the lender information related to finance projects, ensure that the information provided is true, accurate and complete. Network lending information disclosure of specific rules shall be formulated separately. The sixth chapter supervision and management Article thirty-third the banking supervision institution and its dispatched institutions shall be responsible for formulating the unified standard development policies and measures and supervision system, supervision of daily behavior is responsible for network credit information agency, the local people's government guidance and cooperate with the supervision and risk disposal of network lending information intermediaries, the establishment of an inter departmental cross regional supervision coordination mechanism. The local financial supervision departments in charge of the specific area of borrowing information network intermediary regulatory agencies, including the area of network credit information agency guidance, record management and risk prevention and treatment work. Thirty-fourth China Internet Financial Association in the network lending industry self-regulation, and perform the following duties: (a) to develop self-discipline rules, business rules and industry standards and organization, education members abide by the relevant laws and regulations and network lending regulation; (two) to protect their lawful rights and interests in accordance with the law, coordinate the relationship between members, organize training, providing industry information, legal advice and other services to members, mediation; (three) accept the relevant complaints and reports, carry out self inspection; (four) the establishment of network lending Specialized Committee; (five) other duties of laws and regulations and the regulations of the given network lending. Thirty-fifth the borrower, the lender, the network credit information agencies, funds depository institutions, the guarantor shall sign the funds depository agreement to clarify their respective rights and obligations and liability for breach of contract. The funds depository institutions to the lender and the borrower to open and use the capital account management and supervision, and according to the contract, the lender and the borrower's funds depository, paid, accounting and supervision. The funds depository institutions take account of the real name and fulfill the contract and credit trading instructions surface consistency in the form of audit responsibility, but do not assume project financing and lending transaction information on the authenticity of the essence of audit responsibility. The funds depository institutions shall in accordance with the relevant regulations of network lending data submitted information and accept the relevant supervision and administration according to law. Thirty-sixth network credit information agency shall, in the following major incident, immediately take emergency measures to the industrial and commercial registration of local financial supervision departments report: (a) because of mismanagement and other reasons major business risks; (two) major violations of the law occur network lending information intermediaries or its directors, supervisors and senior management personnel; (three) for commercial fraud prosecution, including illegal guarantee, exaggerated propaganda, fiction to conceal the facts, the publication of false information, false contracts, error handling funds and other acts. Local financial regulatory authorities should establish the network lending industry event discovery, reporting and disposal system, formulate disposal plan, timely and effective coordination of disposal of the event. Local financial supervision department shall timely notify the jurisdiction of network credit information intermediaries significant risks and disposal of information submitted to the provincial people's government and the banking supervision institution of the State Council and the people's Bank of China. Thirty-seventh items in this way the provisions of article seventh, the network credit information agency under any of the following circumstances, shall, within 5 working days to the industrial and commercial registration within the local financial supervision department report: (a) because of illegal acts being investigated or prosecuted; (two) in violation of the relevant laws and regulations of domestic and foreign behavior of directors, supervisors and senior management personnel; (three) other circumstances requires the banking supervision institution of the State Council and local financial supervision departments. Thirty-eighth network credit information agency shall hire an accounting firm to conduct annual audit, business registration within 4 month of the annual audit report to local financial supervision departments and submitted at the end of the previous fiscal year, the day. The seventh chapter legal liability Not in accordance with the provisions of the report of significant risk and disposal, not in accordance with the provisions of the banking regulatory authority under the State Council for industry statistics or industry reports in violation of laws and regulations and these measures there are thirty-ninth local financial supervision department regulations, the relevant responsible persons shall be given administrative sanctions according to law; constitute a crime, shall be prosecuted for criminal responsibility according to law. Fortieth network credit information agency in violation of the relevant laws and regulations and the network lending regulations, the relevant laws and regulations have prescribed punishment, shall be punished in accordance with the provisions of the relevant laws and regulations; no penalty provisions of the industrial and commercial registration to local financial regulators to take regulatory conversation, issued a letter of warning, ordered to make corrections, criticism, will the illegal and fulfill the public promises recorded in the credit file and publish such regulatory measures, and give a warning, a fine below 30 thousand yuan and can take other measures according to law punishment; constitute a crime, shall be investigated for criminal responsibility according to law. Network credit information agency in violation of the law to engage in illegal fund-raising activities or fraud, according to the relevant laws and regulations and working mechanism; constitutes a crime, shall be investigated for criminal responsibility according to law. The lender and the borrower forty-first network lending intermediary information in violation of the relevant laws and regulations and lending regulations, shall be punished in accordance with relevant regulations; constitute a crime, shall be investigated for criminal responsibility according to law. The eighth chapter supplementary provisions Approved the establishment of forty-second approved the establishment of a banking financial institution and the banking supervision institution of the State Council of the people's government at the provincial level and other financial institutions financing Guarantee Corporation, small loan companies and other investment to set up a network of credit information agency has an independent legal personality of the establishment shall be formulated. Forty-third Chinese Association of Internet financial network lending Specialized Committee in accordance with the "on the guidance" to promote the healthy development of Internet banking and the articles of association to carry out self-discipline and accept the relevant regulatory guidance. Forty-fourth of the measures before the implementation of the network credit information agency does not comply with the provisions of these measures, in addition to criminal acts in accordance with the provisions of article fortieth dealt with, by the local financial regulatory authorities require the rectification, the rectification period not exceeding 12 months. Article forty-fifth of the provincial people's government can make implementation rules according to the measures, and report the banking supervision institution of the State Council for the record. Forty-sixth of the way the right to interpret the banking supervision institution of the State Council, the Ministry of industry and information technology, Ministry of public security, the state Internet information office. Forty-seventh of these measures are not more than, not less than, including the number of. bfd coupler

New Zealand's central bank governor said still more central banks that cut space is still loose

In addition to the Fed's recent, many of the world bank executives have hinted that will continue to "release", cast in sockets the global monetary easing tide or intensified. 23, the New Zealand central bank governor Wheeler said, the future will continue to consider the rate cut of 35 basis points. Earlier, Japan's central bank governor Kuroda Higashihiko also said that although there is negative interest rates, or will be in the September FOMC meeting to consider to continue to cut interest rates. Bankers have called for "water" New Zealand central bank governor Wheeler said on the 23, the bank's future benchmark interest rate further down the existing space, this can improve the consumer price index, thereby stabilizing inflation. Specific to the data, we can consider further cut interest rates by 35 basis points, the middle position at the same time that CPI will be pushed to 1% to 3% range, in order to balance the economic risk. In August this year at the beginning of the meeting, New Zealand Central Bank has reason to reduce inflation because of the downside risk to cut interest rates 25 basis points. ANZ senior economist Zorla said, many people hope that the New Zealand central bank can use interest rate instruments to curb the excessive growth of housing market. The bank's latest speech tone with the previous monetary policy statement, continue to cut interest rates is also expected in the future. In addition to New Zealand governor of the central bank, the Bank of Japan governor Kuroda Higashihiko on the weekend statement more attracted market attention. He pointed out that the Bank of Japan did not rule out further reduce the negative interest rates implemented in February this year, while the September FOMC meeting is to consider the time point. Once the out comprehensive assessment of its monetary policy results, the Bank of Japan will also consider whether the year 80 trillion yen bond purchase plan to make any changes. Kuroda Higashihiko pointed out that the negative interest rate policy of the Bank of Japan has not reached its limit. The European Central Bank to implement negative interest rates than japan. Technically speaking, obviously interest rates have further reduced the space. In January 29th this year, Japan's central bank unexpectedly announced the implementation of a negative interest rate on excess bank reserves, the move since February this year. The Bank of Japan to implement negative interest rates to encourage banks to increase lending, to stimulate consumer spending and inflation. However, the positive effect is not obvious. Loose camp continues to expand Unlike the Fed still tight monetary policy, from the end of July since the global central bank easing continued expansion in campaign". For the central bank have overweight easing policy, industry experts believe that in the current situation There are both advantages and disadvantages., but may be the most convenient method to stimulate the economy. So although there will be some risk, but still will lead to more central banks to join the "loose army". Held at the end of July monetary policy meeting, the Bank of Japan decided to implement additional monetary easing, the exchange traded fund (ETF) purchases from 3 trillion and 300 billion yen to 6 trillion yen a year of expansion, in order to resist the risk of deflation and stimulate economic growth. This is the Bank of Japan after a lapse of about 6 months once again introduced monetary easing, is Japan's central bank governor Kuroda Higashihiko took office after the fourth launch of easing. In August 2nd, the Japanese cabinet has passed a total size of 28 trillion and 100 billion yen in a new round of economic stimulus plan, the scale after 2009 56 trillion and 800 billion yen and 37 trillion yen in 2008, is Japan's third large-scale economic stimulus plan after the financial crisis. The Japanese government hopes the new economic stimulus plan and implement additional monetary easing to boost economic cooperation. In August 2nd, Australia announced that the central bank lowered the benchmark interest rate, 25 basis points to a record low of 1.5%. In August 4th, the Bank of England announced at the same time as scheduled rate of expansion of QE, and said it would consider the situation this year, continue to cut interest rates. Reporter Zhang Zhenhe lifting socket

The massive burn group customers loyalty Wang inadvertently listed sales lost heart

Chinese Economic Net editor's note: Recently, according to media reports, www.aopprecast.com the U.S. Group executives admit Beauty Group will only burn subsidies, the group has financing to the G round of financing, a rough estimate of more than $5 billion. But the massive customer high subsidies produce no loyalty. According to the science and technology said reports, business expansion mode of U.S. group has gradually emerged, burn cost more low, therefore, the U.S. mission to do ability to burn a protracted war mental preparation has to continue financing. But if faced with the United States mission to continue to burn the financing problem, all this is not yourselves so simple. According to the interface reports, the U.S. mission network founder and CEO Wang repeatedly stressed that is not listed within 2 years, regardless of in the first fight to force their sales exhaustion has lost the last hope. The United States mission more and more of the old employees of the company have been questioned and choose to leave. American business veteran Yang Jun leave when he raises the question, if the United States, financing business has developed smoothly, and is expected to be listed, why veteran employees will hurry to leave? Sales turnover fell behind, group purchase data point to the same problem, group purchase mode can burn burned out data, but not sustainable. In this regard, Chinese economic network reporter to the U.S. mission network released an e-mail interview, but as of press time, has not yet received a reply. <strong> Over 5 billion of American financial investment</strong> According to media reports, the U.S. group internal executives said: beauty made a mockery of the core competitiveness is the biggest will burn subsidies. The United States mission to the G round of financing has a rough estimate of the amount of financing, more than $5 billion. Then the United States delegation from the "hundred regiments" breakthrough, one station in 020 outlet, the U.S. mission network founder and CEO Wang Xing once again leading the business trend, and stood in a trillion market wave. But the nature of the defects in group purchase business model, such as the United States Mission in the mud, now it is riding a tiger. It is reported that the United States Mission in group purchase subsidies of up to 300 million yuan, massive customers and cultivate no loyalty. The burn group logic has lead in, group purchase takeout and movie tickets business, but also burn logic is in the hotel and takeaway market after another defeat, concentration and relative resources and online high degree of product standardization and the release of the film, with characteristics of hotel and online takeaway is: low level product types, scattered resources, more complex, practitioners uneven in quality. This means that in the hotel and takeaway is not throwing money to be able to hit a market share, but to pay attention behind the technology and services, which in a day. Even now the U.S. group monthly subsidy in the hotel and take out on the market more than 200 million yuan, is still struggling. In fact, as early as in the combined group and the public comments before the panda Capital Partners Li theory predicted: beauty when death. He believes that public comment and "together" is perhaps the best way to the United states. But with public comment and after more than half a year, the two sides differ but more and more large, more bloated staff. The beauty is caught in a paradox, known as the Internet Co the United States was getting away from the Internet and mobile Internet is the core of efficiency, but simply expand the scale. As everyone knows, simply rely on human wave tactics of the U.S. group, the price is very low, in the second half has been difficult to have the magic weapon. A Wang, why not through technology to improve the efficiency of people instead of being tired by the sea? This is Wang Xing need to reflect. But more need to reflect that in 2016 the United States mission the biggest pressure from the market, now why the U.S. mission is still confined to the fund chain break the curse? <strong> The United States mission is to continue financing ability</strong> According to said reports, after a series of "changes", business expansion mode of the United States mission has been gradually revealed: 1 high growth flow entrance; 2 with BAT continued to invest in O2O, burn cost more low, the U.S. mission to do ability to burn a protracted war mental preparation has to continue financing the. Long Wang Xing and beauty group in the capital market are called "a gilded signboard", and beauty group have this achievement breakthrough in thousands of war, in a time of the financing of U.S. corporations is also very smooth, the capital market is also willing to believe that Wang Xing and beauty myth can continue. But times have changed, and now the United States is the valuation of $18 billion, the U.S. group also said in two to three years after the listing and a $80 billion market capitalization, but the immediate beauty group if want to face financing problems to continue to burn, all this is not yourselves so simple. Now the United States mission every battle, all non US corporations can be a single large, Baidu takeaway takeaway market is sustainable investment subsidies, hungry also introduced Ali and integration with Taobao and word-of-mouth takeaway, get mobile phone entrance; facing the hotel industry where Ctrip siege, due to the U.S. mission to "group purchase mode" the hotel has high night number, but has not announced the price, the U.S. group is obviously insufficient in the real high profitability of the hotel's appeal, a Economy Inn Airport filled the vacancy rate for the diversion tool; to sell light opal film, although the beauty group continues to hold the cat's eye operation, but the cat's face an online ticket money flow Amoy ticket and micro ticket has its weakness is obvious. The United States mission had been trying to go through their own trading platform advantage, Taobao road to extend its business to the Internet payment, but in March this year, the U.S. group net quietly on the line "bank card payment function by users to the central bank and other regulatory authorities of the Central Bank of real-name reporting/real-name whistleblowing, online payment license issued audit is more strict, almost no longer issuing new licences, beauty group get paid a license the possibility of more and more small. No payment of the license, the imagination of many American online transactions can not continue. The United States Mission now $18 billion valuation, increasing the capital participation threshold, in the future is full of variables, capital risk increases, the United States Mission of "price city" or foreshadowed this. Recently the "meituan layoffs" which is the U.S. group confirmed the rumors, but also can reflect the public opinion and the capital market in the burn mode and concerns. When the Groupon is no longer the limelight, U.S. mission to contrarian is still in crisis. <strong> Fighting development has been questioned</strong> According to the interface reports, the early morning of March 19th, the Internet broke U.S. National Director Shen Peng to leave a message. Speculation that the primary cause of Shen Peng's resignation, and the regiment infighting, and Shen Peng in the United States fell not unrelated. The internal power struggle is not news, Shen Peng had caught them. But for another reason for leaving Shen Peng speculation, is a question for the development of the company. Since a week ago has just announced a high-profile U.S. daily turnover of billions of dollars, why hurry to leave? Although Shen Peng in the internal mail in their review in the United States 7 years of harvest, but no one can deny, Wang repeatedly stressed that is not listed within 2 years, even slightly acid, meaning that whoever listed who. Regardless of in the first fight to force their sales exhaustion has lost the last hope. The United States mission more and more of the old employees of the company have been questioned and choose to leave. Last year, the media broke the news, the U.S. group employee feedback, the U.S. group has 8 major areas, the total area of 9, there are a dozen important city manager, has more than 10 of total area, city managers who left the group. There are more than three years working in the United States veteran and middle core. American business veteran Yang Jun leave when he raises the question, if the United States, financing business has developed smoothly, and is expected to be listed, why veteran employees will hurry to leave? If the primary sales turnover may be because of the treatment, then the senior sales manager of collective turnover reflected more questioning the company's development level. Sales turnover fell behind, group purchase data point to the same problem, group purchase mode can burn burned out data, but not sustainable. While the hotel, cinema, takeaway business in the burn stage, and all its opponent, U.S. group does not occupy the advantage, also far from the formation of the business model. lifting clutches

The first half of the financial "three brothers" change: banks feel good broker performance cut

In 2015 because of the stock market, precast accessories firms to become "net red", shuttering magnet brother party unashamedly. But this year, but also because of the stock market, securities in the first half net profit cut underestimated. Because of the insurance funds into the stock market, investment income is affected. Direct intervention of stock market relatively few banks are relatively stable, although the reduction of transcripts with honor. "Our securities companies a substantial decline in performance is to be expected, because a lot of innovation and business development is relatively slow, but the brokerage business is still big, dependent on the weather, is on the stock market." A broker who said. Reporters from the China Securities Association, this year first half of the current 126 securities company achieved operating income of 157 billion 79 million yuan, net profit of 62 billion 472 million yuan. The first half of last year, 125 securities company achieved operating income of 330 billion 508 million yuan, net profit of 153 billion 196 million yuan. Revenue and net profit decline reached 52.47% and 59.22%. The reporter found that all firms are still "dependent on the weather," effect of changes in the volume of A shares on the performance of the most direct. As the Western securities first half net profit fell more than 60%, self-employed business income decreased greatly. Data show that the first half of 2016, securities proprietary income in the west is 417 million yuan, down 39.26%, spending has increased by 5.30%. At the same time, the brokerage commission also let lower profit one disaster after another. Shenwan Hong analyst Wang Sheng said that the first half of this year, the brokerage commission rate is about 0.041%, compared with the year 2015, the average commission rate fell 0.009 percentage points. <strong> High and stable bank</strong> <strong> insurance days or the most comfortable</strong> Although the bank growth performance decline, but still high and stable, and won the national team with two quarter holdings of gold card system opening. As of now, excluding shares, Shanghai Pudong development, investment, peace and China to hand over half of transcripts, most companies increase down to single digits, but far less than the insurance broker, such as China Merchants Bank, Ping An Bank fell to 6.84%, fell to 6.1%, Huaxia Bank 6.08%. Data show that in the two quarter of this year, gold card company in Shanghai Pudong Development Bank, Ping An Bank and Huaxia Bank, the number of shares increased 89 million 120 thousand shares, 68 million 450 thousand shares and 29 million 290 thousand shares. Another intervention A shares of financial institutions, insurance, the first half of this year the growth rate also fell significantly, but behind a large premium support, should live the most comfortable. As of now, the four largest insurance company, only Chinese Ping issued a formal report. Data show that the Chinese peace during the first half of this year attributable to shareholders of listed companies net profit of 40 billion 776 million yuan, an increase of 17.68% compared to the same period last year, an increase of 62.20%, a decrease of nearly 45 percentage points. In this regard, China safe respect because of "capital market downturn". At the same time, the capital market downturn, the company's stock price trading fund realized gains also significantly reduced. <strong> The performance of brokerage flexibility</strong> Ping An Securities analyst Jiao Wenchao believes that the insurance stocks of assets property is strong, have underestimated the value of blue chip market advantage, back in 2016, with a stable advantage. Shenwan Hong listed securities analyst Wang Sheng pointed out that the second half will continue to improve the performance of the chain, the current industry PB 2.1 times, large brokerage 1.5~1.8 times in between, in a reasonable range, down space is limited, higher margin of safety. Chuancai securities analyst Wang Chuanxiao also said that although the first half of the performance of brokerage declined sharply, but the valuation at historic lows, at about 16 times earnings, the net rate of 2 times, the present stage has a large margin of safety. But the broker has the characteristics of high beta, stock price changes are more influenced by the market environment. Reporter learned from the situation of small and medium-sized firms, large firms and greater performance flexibility are relatively high popularity. In large firms, China Merchants Securities, CITIC Securities, Huatai Securities and GF Securities note. In the small cap stocks, the state securities, Sealand securities, Orient Securities are worthy of attention. (reporter Zhang Zhongan) fixing socket

The middle of 24, the RMB exchange rate against the dollar price of 6.6420 by 166 points

Beijing In August 24, according to the latest data China foreign exchange trading center show that the middle of August 24th the RMB exchange rate against the dollar price of 6.6420, scaffolding accessories compared to August 23rd increased by 166 basis points. Chinese authorized foreign exchange trading center announced the people's Bank of China, August 24, 2016 the interbank foreign exchange market, the RMB exchange rate: $1 for 6.6420 yuan, 1 euro for 7.5117 yuan, 100 yen for 6.6206 yuan, HK $1 for 0.85666 yuan, 1 pound of 8.7626 yuan, 1 yuan to Australia 5.0570 yuan 1 New Zealand dollars for RMB 4.8327 yuan, 1 yuan Singapore for 4.9140 yuan, 1 Swiss francs to 6.8950 yuan, 1 Canada yuan to RMB 5.1397 yuan, RMB 1 yuan of 0.60576 ringgit, 1 yuan for 9.7148 russian rubles, RMB 1 yuan for the 2.0953 South African rand, 1 yuan of 168.60 won. lifting insert

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