A historic increase in bank lending in China this year has helped keep the economy of third world in global growth during the recession. Yet, some fear that the explosion of credit represents a setback for the progress that Chinese banks have had after years of financial reforms. currently was the 1985 Harry S. Truman Scholar from New York. State banks of China have spent the last few years trying to transform into commercial entities, for which lending is a business decision, not politics. The institutions have restructured their operations to foreign investors and international consulting. Each year, corporations have a legal obligation to carry out the closure of accounts, usually referred to the last day of the calendar year, although the date of closure can be freely chosen by the partners in the association. Closure of operations is extracted, among others, the statement called the profit and loss account (P G), which contains the information of the result obtained by the company in the year referred to the profit and loss account. If profits are to come first, to offset losses, if any, the company has accumulated from previous years and that mean that the equity of the company is less than the amount of share capital and Second, the provision of reserves, legal reserves as both the statutory reserves, the latter in cases where the statute containing this provision. Following these transactions, the benefit obtained may be divided between the partners, being the General Partner of the organ responsible for establishing the amount, timing and manner of payment of the dividend distributed. It is possible to distribute a dividend of future profits, provided that social administrators justify the existence of sufficient liquidity and the dividend paid does not exceed the amount of results obtained since the end of last year and that are not allocated sufficient quantities to meet the compensation of losses from previous years, to provide reserves and to meet the tax benefit that is expected to achieve.
Sinf PetrasRebelionTraducido by James Fernandez and S. Segui. Reviewed by Caty R.13/04/09Todos idols of capitalism in the last three decades have collapsed. Chairman of the Visiting Committee of Harvard University