男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影
  Home>News Center>China
       
 

Watchdog: CAO made 'wrong' decisions
By Xie Ye/Wang Ying (China Daily)
Updated: 2004-12-10 00:37

The State-own Asset Supervision and Administration Commission (SASAC) took aim at the beleaguered China Aviation Oil (Singapore) Corp on Friday for violating regulations on trading oil index futures.

It is the first time the government has commented on the financial scandal in which CAO lost US$550 million in derivatives trading.

The oil futures trading of CAO "severely encroach the normal procedure of decision making and made wrong business decisions that caused huge losses," said Du Yuanquan, spokesman of the SASAC, which oversees State enterprises.

Du warned during Friday's press conference that the incident should serve as a reminder to State enterprises.

He called for stronger supervision and risk management mechanisms to avoid similar problems in the future.

China has allowed dozens of State companies to trade futures in selected overseas futures exchanges. But they are strictly barred from speculative trading.

CAO, which dominated China's jet fuel imports, racked up huge losses in speculative trading, after it made a wrong bet on the movement of oil prices.

The company, which has applied for court protection from creditors, is seeking strategic investors for restructuring.

On Friday, China Aviation Oil Holding Company (CAOHC), CAO's parent company, accused CAO of covering up the information for more than a year, Xinhua News Agency reported.

CAOHC said the slack risk supervision and management led to the violation.

Despite the incident, CAOHC said China's domestic jet fuel supply remains unaffected.

CAOHC supplied 7.08 million tons of jet fuel from January to the end of November, up 38 per cent from a year earlier.

Meanwhile, CAOHC is preparing to establish a new trading arm to take over CAO's jet fuel import business.



 
  Today's Top News     Top China News
 

China concerns Japan's overhaul of defense policy

 

   
 

SAFE: Country not reducing US dollar holdings

 

   
 

Coal mine blast kills 33 in Shanxi

 

   
 

Watchdog: CAO made 'wrong' decisions

 

   
 

Betting on renminbi's appreciation banned

 

   
 

Traffic situation better in capital

 

   
  Ships gather to clean up oil spill
   
  Funds earmarked to bring rural children access to information
   
  Coal mine blast kills 33 in Shanxi
   
  Former governor sentenced to 11 years in prison
   
  Court helps workers get overdue pay
   
  Chinese media spread global views
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 桃园县| 宾阳县| 辽宁省| 泰来县| 墨江| 自贡市| 龙南县| 文安县| 通许县| 额济纳旗| 防城港市| 永昌县| 凌源市| 怀远县| 朝阳市| 桐乡市| 东城区| 儋州市| 平乐县| 巴林左旗| 永福县| 泾源县| 正镶白旗| 麻江县| 沙田区| 峨山| 洪雅县| 都江堰市| 额敏县| 仪征市| 屏南县| 宁津县| 建昌县| 扶风县| 红安县| 阿勒泰市| 浏阳市| 武鸣县| 长治市| 垣曲县| 建始县| 彭州市| 大关县| 牟定县| 阳东县| 孝义市| 彩票| 莱芜市| 广灵县| 临澧县| 莱阳市| 太谷县| 惠水县| 台安县| 洛阳市| 内乡县| 雷波县| 辽中县| 通州市| 五大连池市| 麦盖提县| 华蓥市| 新昌县| 石河子市| 博客| 万源市| 分宜县| 涿鹿县| 沙洋县| 临江市| 定远县| 卢龙县| 罗甸县| 泸水县| 霞浦县| 平阴县| 钟山县| 仁化县| 海阳市| 神木县| 双流县| 东丰县|