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News Research

2008 Beijing Olympics tickets go on sale

(Agencies)
Updated: 2007-04-15 11:21

Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG) holds a press conference to announce the launch for the sale of 2008 Beijing Olympics tickets in Beijing April 15, 2007. More than 7 million tickets went on sale Sunday for the 2008 Beijing Olympic Games, organizers said.

Seventy-five percent of the tickets are for domestic sale and the rest are for sale outside of China, officials of the Beijing Organizing Committee for the Olympic Games said.

Wang Wei, executive vice president and secretary general of the event's organizing committee, repeated earlier statements that tickets were going to be affordable to the general public.

"The ticketing process will be conducted in the most efficient, fair and open manner possible and will follow internationally accepted practices," Wang was quoted as saying in a statement.

Organizers said tickets in China will be distributed over three phases. For events that are oversubscribed, the recipients of the tickets will be picked by random selection, the committee said.

For tickets outside China, responsibility for distribution will be on the respective national Olympic committees or their designated agents, organizers said.

International News

Summit Meeting of SAARC

The 14th summit meeting of the South Asian Association for Regional Cooperation (SAARC) was held in New Delhi from April 3-4. Afghanistan made its debut in this forum as a new SAARC member, while China, Japan, South Korea, the United States and the European Union (EU) participated as observers for the first time.

First, the summit meeting is dedicated in promoting economic cooperation of South-Asia region.

Second, anti-terrorism is the main topic.

Third, the international influence of larger SAARC

Chinese Foreign Minister Li Zhaoxing, who led the Chinese delegation, said at this year's summit that China follows the SAARC cooperation process closely and is committed to promoting regional cooperation. It appreciates the decision by SAARC to accept it as an observer, he said, adding that the Chinese Government supports the goals and priorities set by SAARC. It will carry out exchanges with the organization, expand practical cooperation with it, facilitate its cooperative process and contribute to peace and development in South Asia while respecting the wishes of SAARC countries and upholding equality and mutual trust.

Industry News

The Global Association of Risk Professionals

　　　　　　　

　

The Global Association of Risk Professionals(GARP),founded in 1996,is one of the biggest international financial associations presently.By the end of May　2005,GARP had more than 46,000 members from more than 100 countries of the world. Most of the members work related to financial risk management in central banks,stock-management institutions,commercial banks,asset management corporations,hedge fund,universities,large corporations and so on.

GARP,a nonprofit organization,has offices in USA and UK.Till May　2005,GARP had established branches in 35 regions of the world.Through all kinds of educational training activities,magazine publication,website and organizing examination of Financial Risk Manager(FRM),the principle of GARP is to extend the optimum method of risk management and risk control,improve the members’career quality,encourage and promote the communication among members,professionals,supervisors of risk management and risk control from all over the world,and promote society to pay more attention to risk management and risk control.

As the present biggest international organization of risk management and risk control,GARP has built close relation and cooperation with international associations,organizations and supervisal administration,including BIS,IASC,IAFE,ISDA,SEC,FSA,AIMR,CFTC,SA,FOA,BBA and so on,especially kept close negotiation and cooperation with Bank for International Settlements(BIS) in order to help BIS to edit Basel agreement.GARP has become the authority institution of global risk management and risk control

Domestic News
Economic Ties Are Changing

UPDATED: April-9-2007

Since China and Japan established diplomatic relations 35 years ago, especially during the past 20-plus years since China initiated its reform and opening-up policy, trade and economic relations between China and Japan have developed quite quickly.

In 2006, Sino-Japanese trade volume reached $207.36 billion, increasing 12.5 percent from a year earlier. China exported $91.64 billion to Japan, up 9.1 percent from the previous year, while China imported $115.72 billion from Japan, for a yearly growth rate of 15.2 percent. China is Japan's second biggest importer and Japan is China's third biggest importer.

Japan is now China's second biggest investor, but its total investment in China in 2006, $4.598 billion, was 29.6 percent lower than that in 2005. This is an outstanding characteristic of their trade and economic ties. But, as economic globalization expands and China's economy develops steadily, the content of that complementary relationship is being gradually altered.

First, the trade structure between the two is changing. In the 1980s, China exported crude oil, coal and agricultural byproducts in return for Japan's mechanical equipment, automobiles, home electrical appliances and steel. In the 1990s, industrial products took up a greater proportion of China's export structure and primary products were no longer the main export products to Japan.

Second, direct investment complements the bilateral trade ties. In recent years, as China's economy has developed, its industrial structure has been upgraded, with an enlargement of the market scale. Japan's domestic industrial structure has made adjustments as well, as Japanese enterprises focus on setting up a global labor division system. Thus, the complementary nature of Sino-Japanese ties in the investment field has become more obvious, and the investment standard is higher. Evidence shows that Japanese enterprises' direct investment in China favors the development of Sino-Japanese trade. The growth of China's exports to Japan on some level is a benefit of Japanese direct investment, which is also the inevitable result of a complementary advantage and cooperation mutually beneficial to China and Japan.