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State Reserve Bureau
The State Reserve Bureau also known as State Bureau of Material Reserve was part of the National Development and Reform Commission of the government of China. The bureau was responsible for managing strategic material reserves such as copper, iron, etc. and managing funds, assets, infrastructure, etc. It also manages trading in material reserves such as metals. The bureau gained attention within the press in 2005 when a rogue trader vanished for some time as part of the State Reserves Bureau copper scandal The State Reserves Bureau copper scandal refers to a loss of approximately US$150 million as a result of trading LME Copper futures contracts at the London Metal Exchange (LME) by rogue trader Liu Qibing, who was the chief trader for the Import an ....Forbes Magazin/ref> References {{Reflist External links * Official websit Economic development in China Investment promotion agencies National Development and Reform Commission ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Development And Reform Commission
The National Development and Reform Commission of the People's Republic of China (NDRC), formerly State Planning Commission and State Development Planning Commission, is a macroeconomic management agency under the State Council, which has broad administrative and planning control over the economy of Mainland China. It has reputation of being the "mini-state council". The candidate for the chairperson of the NDRC is nominated by the Premier of the People's Republic of China and approved by the National People's Congress. Since February 2017 the commission has been headed by He Lifeng. Synopsis The NDRC's functions are to study and formulate policies for economic and social development, maintain the balance of economic development, and to guide restructuring of the economic system of Mainland China. The NDRC has twenty-six functional departments/bureaus/offices with an authorized staff size of 890 civil servants. Prior to 2018, it was also responsible for enforcing China's a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and borders fourteen countries by land, the most of any country in the world, tied with Russia. Covering an area of approximately , it is the world's third largest country by total land area. The country consists of 22 provinces, five autonomous regions, four municipalities, and two Special Administrative Regions (Hong Kong and Macau). The national capital is Beijing, and the most populous city and financial center is Shanghai. Modern Chinese trace their origins to a cradle of civilization in the fertile basin of the Yellow River in the North China Plain. The semi-legendary Xia dynasty in the 21st century BCE and the well-attested Shang and Zhou dynasties developed a bureaucratic political system to serve hereditary monarchies, or dyna ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Material
Strategic material is any sort of raw material that is important to an individual's or organization's strategic plan and supply chain management. Lack of supply of strategic materials may leave an organization or government vulnerable to disruption of the manufacturing of products which require those materials. It can also refer to a group or department that manages these materials. In government terms, they are materials, usually raw materials that have a particular strategic significance to a government or nation, often in time of war. Their strategic need is because of their crucial importance for either economic or military purposes. Some materials are relatively simple, but are required in great quantities during wartime. Others are obscure and technically complex. Although not required in large quantities, their irreplaceability and critical need makes them especially valuable. Foodstuffs are not generally classed as strategic materials: although vital, they are treated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rogue Trader
A rogue trader is person who makes financial trades in an unauthorised manner. Rogue trader may also refer to: * ''Rogue Trader'' (book), the autobiography of (and later a movie about) Nick Leeson, the man who caused the collapse of Barings Bank * ''Rogue Trader'' (film), the 1999 film about Nick Leeson directed by James Dearden *'' Warhammer 40,000: Rogue Trader'', the first edition of the ''Warhammer 40,000'' franchise ** ''Rogue Trader'' (role-playing game), the second role-playing game in the Warhammer 40,000 roleplay sub-franchise See also * Rogue Traders Rogue Traders is an Australian electronic rock band formed in Melbourne, Victoria in 2002 by mainstay James Ash on keyboards. In 1989, Ash met fellow original member Steve Davis in London while both were working as DJs. Before forming Rogue Tr ..., an Australian electronic rock group * ''Rogue Traders'' (TV programme), a BBC consumer affairs television programme {{Disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Reserves Bureau Copper Scandal
The State Reserves Bureau copper scandal refers to a loss of approximately US$150 million as a result of trading LME Copper futures contracts at the London Metal Exchange (LME) by rogue trader Liu Qibing, who was the chief trader for the Import and Export Department of the State Regulation Centre for Supply Reserves (SRCSR), the trading agency for the State Reserve Bureau (SRB) of China in 2005. Unauthorized trading After obtaining a bachelor in economics, Liu Qibing started working for the SRCSR, and was sent to the LME for training in 1995. Liu became the director of Import and Export Department at SRCSR, in 1999, and was authorized to place orders on LME and the Shanghai Futures Exchange (SHFE). In 2002, Liu was promoted again to be the chief trader of SRCSR. Between 2002 and 2004, Liu had traded long positions on copper to bet that China's construction boom at the time would lead to price increases. Starting around 2003, Liu started to arbitrage copper prices between the SHFE a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Development In China
An economy is an area of the Production (economics), production, Distribution (economics), distribution and trade, as well as Consumption (economics), consumption of Goods (economics), goods and Service (economics), services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarcity, scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two grou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Promotion Agencies
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is to generate a return from the invested asset. The return may consist of a gain (profit) or a loss realized from the sale of a property or an investment, unrealized capital appreciation (or depreciation), or investment income such as dividends, interest, or rental income, or a combination of capital gain and income. The return may also include currency gains or losses due to changes in the foreign currency exchange rates. Investors generally expect higher returns from riskier investments. When a low-risk investment is made, the return is also generally low. Similarly, high risk comes with a chance of high losses. Investors, particularly novices, are often advised to diversify their portfolio. Diversification has the statistical effect o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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