三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

  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: 精品自在线 | www.亚洲色图 | 黄色大片aaa| 亚洲欧美另类在线视频 | 黄色网址免费看 | 久久久受www免费人成 | 操批视频 | 国产露脸国语对白在线 | 久操视频免费观看 | 午夜视频在线观看一区 | 日韩草逼视频 | 99久久国语对白精品露脸 | 亚洲精品午夜在线观看 | 黄色片网站观看 | 99v视频国产在线观看免费 | 国产一区二区亚洲精品 | 妞干网在线观看 | 亚洲视频污 | 一区二区三区免费视频 www | 久久久综合网 | 免费视频片在线观看 | 亚洲爱婷婷色婷婷五月 | 一级黄色性片 | 国产精品视频在线免费观看 | 久久综合网久久综合 | 日本护士a做爰免费观看 | 欧美日韩国产一区二区三区欧 | 成人免费的性色视频 | 欧洲美女a视频一级毛片 | 成人污片 | 美国a级 | 亚洲一区亚洲二区亚洲三区 | 欧美一级做a爰片久毛片 | 国产亚洲99影院 | 在线免费观看小视频 | 亚洲欧洲国产视频 | 国产美女主播在线 | 中文字幕在线永久在线视频2020 | 久青草香蕉精品视频在线 | 拍拍拍拍拍拍拍无挡大全免费 | 欧美日韩一区二区三区高清不卡 |