投资信贷

He pointed out that domestic and international experience shows that the bond market, bond credit rating in the bond investment is a very important concern, the Dongwu letter sound excellent selection of bond funds in the selection of high credit debt, set a higher threshold level of investment credit, In order to prevent the growing risk of a credit voucher to ensure that low-risk characteristics of the Fund.

他指出，国内和国际的经验表明，债券市场，债券在债券投资信用评级是一个非常重要的关注，东吴信健全的高信用债券的选择优秀的债券基金的选择，提出了更高的门槛水平投资信贷，为了防止信用凭证越来越大的风险，以确保低基金的风险特征。

Coordinated by the County Government the local financial departments will loan certain circulating capital(which can readch 50-70% of fixed assets investment in general) for the projects of fixed assets investment of over 10million yuan during the capital construction and after their going into operation.

bull；对固定资源投资 1000 万元以上的项目，在建设期间和投入生产后，按投资规模和信贷政策由县政府协调金融部门解决相应的流动资金（一般按固定资产投资的 50-70%安排）。

Subsequently, the paper indicated how the incompliant lending came from the bank and company sides, and summarized several common incompliant patterns based on personal experiences. Those patterns are as follows: firstly,"used shell to give birth to eggs"by the medium and small developer; secondly,"unified distribution"by large developer; thirdly,"do in the darkness"used in hyper-investment or roll development by developer. The paper summarized the characteristic and fund operation process for each mode, and analyzed the influence and risk of incompliant lending loan to both banks and real estate markets.

接着，从银行及企业两方面阐述房地产违规信贷的成因，并凭借个人实务经验总结出几种常见的违规信贷模式，一是中小型房地产商采用的借壳生蛋型，二是大型房地产商采用的统一调配型，三是在项目超投资或滚动开发时采用的暗渡陈仓型，对每一种模式归纳了特点及资金流转过程，并分析了违规信贷对银行和房地产市场的风险。

For the incompliant lending patterns mentioned above, on commercial banks part, improving the management and business technique will reduce, or even eliminate the incompliant behaviors in the pre-investigation process. From the Central bank and China Banking Regulatory Commission side, setting the inner network in the same industry, controlling the ratio of real estate loan, and enhancing the penalty to suppress the development of incompliant lending of real estate are effective ways to control risk. Fundamentally, the government should conduct the developer of real estate to search for the new financing mode to improve the stability and development, this might include some measures as follows: improving the liability financing structure of large real estate companies, develop the Reits and support its securitization to form the multi-financing.

对上述违规模式，从银行内部提高管理及业务水平方面，本文提出了针对性的风险防范措施，可有效地将违规的苗头扼杀在贷前调查过程中；从央行及银监会角度，可以通过建立同业信息沟通网络、严格控制房产信贷比重、加大违规惩戒力度等手段抑制房地产违规信贷的发展；而最根本的，政府应当引导房地产开发企业寻找新的融资渠道来促进房地产行业稳定和健康的发展，包括改善大型地产企业的债务融资结构、发展房地产投资信托基金及推动房产抵押证券化等方式形成房地产多元化融资的格局，这样，房地产违规信贷模式也就不攻自破了。

These situations are the main character of Chinese credit rationing phenomena. It could be conclude that a great mummer of important problems, which including some macro-scale problems such as the dualistic financial structure, the inefficiency of fund allocation, the phenomena of regulation of interest rate, and some middling scale problems such as the banking industry structure, the rampart of entering and exiting banking, as well as some micro-scale problems such as non-performing loans of banks,'over investment' of state-owned enterprise, credit deficiency of enterprises, have concerned with the situations.

一方面，从微观层面来看，政府行政权利在资源配置中的主导作用是中国特色信贷配给现象的一个主要的组成部分；可以说，无论是宏观方面的二元金融结构、资金配置效率低下、利率管制等现象；中观方面的银行业市场结构、银行业进入以及退出壁垒；还是微观方面的某些痼疾，如银行不良资产、国有企业的"过度投资"、微观主体信用缺损等，都在一定程度上同政府主导的信贷配给有关。

France's Credit Agricole bank says it will sell $7.75 billion in assets and name a new head of its investment banking arm to cope with losses related to the U.S. subprime home loan crisis - and the fallout from the global credit crunch .

法国农业信贷集团说，将出售价值超过77亿美元的资产，同时任命一名新的投资银行主管，以对付美国次级房贷危机和全球信贷市场下滑给他们造成的损失。

This is because bank lending has become increasingly less important source of FAI over the past years.

这是因为近几年来，对固定资产投资来说，银行信贷已变成越来越不重要的资金来源。2003到2007年间，由银行信贷提供资金的固定资产投资的比例从21%，下降到今年的仅为15%。

China needs participation of investment banks in recapitalizing hundreds of thousands of enterprises, reactivating trillions of SOEs debts and savings and reorganizing hundreds of millions of bank credit property.

中国有几十万家企业需要投资银行参与改制，上万亿的国企债务需投资银行参与盘活重组，几千亿的银行信贷资产需要投资银行参与保全和重组。

The conclusion established some ways to improve the credit risk management such as optimize the national-owned enterprises and commercial banks operation structure; establish new relationship between banks and corporations; optimize bank's internal control system; balancing corporate financing ways, eliminate corporate over-dependency on bank's credit assets, and remove information asymmetric contributed by credit sales.

本文在分析和评述国内外银行信贷资产安全性相关理论的基础上，对银行信贷资产安全性与流动性、盈利性之间的关系、信贷资产安全性的概念、分类进行了界定和分析，在对影响商业银行信贷资产安全性共性因素和我国信贷资产安全性现状进行深入剖析的基础上，紧密结合中国银行业的实际，结合信息经济学、行为金融学的有关理论从产权制度、公司治理结构、融资行为、投资行为、内部控制等方面深入分析了借款企业行为、商业银行行为、政府行为及社会信用环境对信贷资产安全性的影响机理，特别是重点分析了信息不对称条件下商业银行信贷资产安全性生成机理，较系统、全面地论述了影响我国商业银行信贷资产安全性的特殊因素，并运用logistic等统计方法进行信贷资产安全性判别进行了实证研究，构建了我国商业银行信贷资产安全性判别模型，最后在此基础上提出了不断健全完善公司治理结构，树立市场化的新型银企关系；完善商业银行内部控制制度，强化内控执行机制；优化企业融资模式，降低企业对商业银行信贷资金的过度依赖；有效缓解商业银行信贷经营活动中面临的信息不对称程度等加强商业银行信贷资产安全性管理和控制的措施与建议。

Its main functions are in accordance with the modern financial enterprise management mode, and its members for the Group units for handling deposits and loans, clearing, bill discounting, financial and financing, the buyer credit, consumer credit, to issue or underwrite bonds, financial equity investment, lending, etc. financial services, and on behalf of Group external handle financial matters.

其主要职能是按照现代金融企业管理模式，为集团公司及其成员单位办理存贷款、结算、票据贴现、财务和融资顾问、买方信贷、消费信贷、发行或承销债券、金融股权投资、同业拆借等金融业务，并代表集团公司对外处理金融事务。

However, as the name（read－only memory）implies, CD disks cannot be written onorchanged in any way.

然而，正如其名字所指出的那样，CD盘不能写，也不能用任何方式改变其内容。

Galvanizes steel pallet is mainly export which suits standard packing of European Union, the North America. galvanizes steel pallet is suitable to heavy rack. Pallet surface can design plate type, corrugated and the gap form, satisfies the different requirements.

镀锌钢托盘多用于出口，替代木托盘，免薰蒸，符合欧盟、北美各国对出口货物包装材料的法令要求；喷涂钢托盘适用于重载上货架之用，托盘表面根据需要制作成平板状、波纹状及间隔形式，满足不同的使用要求。