
COMPANY INTRODUCE
China Hongyang Group, is an integrated enterprise with the research & development, production and marketing of Fuel Dispenser and related accessories as well as service station concerning equipments. It concentrates on the relative manufacture & services of filling station such as Hongyang tax control Fuel dispenser, IC Card fuel dispenser, manage system of network for stations, submerge pump and liquid level devise. China Hongyang Group, designed supplier of SinoPec and PetrolChina, our HONGYANG products have been sold to over 50 countries in South-east Asia, Mid-east, Africa, Europe and well received in their markets.
we are committed to create the best workplace, encourage our staffs to put their own personalities into their jobs, and provide them a stage to show themselves.
e (the Germans favour Frankfurt, Euronext does not) to
questions about clearing and settlement.
While Macquarie was not the first to note that exchanges throw off a tremendous amount of cash, its bid for the
LSE reminded shareholders “how far you could leverage fuel dispenser the balance sheet,�says Andrew Mitchell of Fox-Pitt,
Kelton, an investment bank. “Macquarie helped investors crystallise their thoughts.�Last week the LSE said it
would double the cash returned to shareholders. Deutsche Börse returned ¬800m in share buy-backs and dividends
in 2005 and plans to return another ¬700m by May 2007. Euronext is also mulling a return fuel dispenser of capital, and will
unveil its plans on March 14th.
Exchange users, notably big investment banks, say that they too should benefit from growth, through lower fees.
This week they met to urge Charlie McCreevy, the European Union s internal-market commissioner, to push for a
more open cross-border system of clearing and settling share trades. Britain s competition authorities have already
said that Deutsche Börse or Euronext must sell some clearing holdings if they want to pursue the LSE.
In the past, Mr McCreevy has favoured letting the market provide a solution on cross-border clearing and
settlement, while noting that it remains costly and inefficient and puts “an unacceptably high burden on cross-
border investment�in Europe. People who attended this week s meeting say that he may now consider issuing a
directive if he finds the economic arguments persuasive. A decision is due in the second quarter. “I m optimistic
liberalisation is going to come about�in clearing and settleme fuel dispenser nt, says Alberto Giovannini, who chairs a group of
European financial-services firms. But, he adds, consolidation is likely to be “messy and choppy�
Not surprisingly, exchanges with their own clearing and settlement operations—notably Deutsche Börse and
Euronext—are more resistant to regulatory intervention. Even so, Deutsche Börse this week sounded a bit more
con