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Facts & Figures In China
China, The World's Largest Producer Of Cashmere
China is the world's largest producer of cashmere, churning out 75-80 percent of the global supply -- worth an estimated five to six billion yuan ($770 million to $920 million) per year.
| China Tightens Control Of SOE's Financial Derivative Transactions |
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China's State-owned Assets Supervision and Administration Commission (SASAC) Wednesday reiterated that state-owned enterprises (SOEs) should strengthen control of financial derivative transactions, and report quarterly to the commission, Xinhua news reported. This move was aimed at reinforcing the government's stated intention of effectively banning speculation by some SOEs.
In March, SASAC required the reports to include changes in holdings of derivatives, capital usage, settlements, profits and losses, and analysis of hedging results and risk exposure, said the commission in a statement released on its website. The report should be sent to the commission within 10 working days of the end of each quarter, said the statement. Several central SOEs have reported huge derivatives losses since last year as the global financial crisis spread. |
