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BEIJING, May 14 (Xinhua) -- Two revised rules involving a planned Nasdaq-style stock market, the Growth Enterprise Market (GEM), will take effect on June 14, according to the China Securities Regulatory Commission (CSRC) Thursday. The two rules involve establishing an independent committee to approve listings for the GEM and the management of sponsors of IPOs. The two rules are taken as a key step closer toward introducing the much-anticipated GEM, a board intended to nurture innovation-driven start-ups as the government tries to help smaller companies get financing and encourage technological advances. The rules are the same as the drafts issued on April 17 to solicit public opinions, said the CSRC. Under the rules, the new panel will have 35 members. Five will come from the CSRC and the others from the accounting, law and other sectors. The panel won't include members of the review panel for IPO application on the main board. Under the rules, the sponsors of IPOs on the GEM are required to monitor the companies' performance for three years, up from two for companies on the main board.
HANOI, May 25 (Xinhua) -- Chinese Foreign Minister Yang Jiechi attended the 9th Foreign Ministers' Meeting of the Asia-Europe Meeting here on Monday and delivered a speech at the opening ceremony. Yang said with deepening globalization, the destinies of Asia and Europe have been tied together. Countries must intensify cooperation, deepen mutual trust and build a new and closer Asia-Europe partnership. To build such a partnership, Yang said countries should enhance mutual understanding through dialogue on an equal footing. Countries should promote development through intensified cooperation. Countries should advocate mutual tolerance through expanded exchanges. Countries should strengthen its institution building to ensure the vitality. Yang made several suggestions to cope with the ongoing financial and economic crisis and other global challenges. First, Yang said countries should strengthen confidence and strive for economic recovery and growth. Countries should firmly oppose all forms of protectionism and take concrete steps to help develop countries maintain financial stability and work together to overcome the international financial crisis. Second, countries should take active measures to counter the threat of A/H1N1 flu and other infectious diseases and minimize the impact of the flu on global trade and economic activities, said Yang. Third, countries should think for the future, remain committed to the principle of "common but differentiated responsibilities" and step up cooperation in tackling climate change. Fourth, countries should increase input and foster and follow anew energy security concept that calls for win-win cooperation, diverse forms of development and common security through coordinated supply, said Yang. Fifth, countries should promote peaceful and negotiated settlement of hotspot issues and regional disputes on the basis of mutual respect, mutual trust and cooperation. The international community should fully respect the sovereignty and territorial integrity of the countries concerned, provide active and constructive help, and avoid willfully applying pressure or sanctions. Yang said to deal with the international financial crisis, China has adjusted its macro-economic policies and implemented positive fiscal policy and loosened its monetary policy in an appropriate manner. China has launched a package of measures to expand domestic consumption and stabilize export market and these measures have started to take effect. As a responsible member of the international community, China will continue to work together with other ASEM members to strengthen coordination in the macro-economic policy, advance the reform of international financial system and actively safeguard the stability of the multi-lateral trade system. The 9th Foreign Ministers' Meeting of the Asia-Europe Meeting (ASEM) opened here on Monday with the participation of foreign ministers and delegates from 45 ASEM members in the two-day meeting. Vietnamese Prime Minister Nguyen Tan Dung delivered the opening speech of the meeting.

BEIJING, June 25 (Xinhua) -- Chinese Premier Wen Jiabao said on Thursday that China and Germany should join hands to combat trade and investment protectionism. The premier made the remark during a telephone conversation with German Chancellor Angela Merkel in which the two leaders also discussed bilateral ties and other issues of common concern. Wen said cooperation between China and Germany, both among the world's major economies, is developing smoothly in a variety of fields. He said the two sides should continue to handle their relations from a strategic and long-term perspective, and keep up high-level exchanges. The two nations, Wen said, also should strengthen communications and coordination to push for a healthy and stable development of their bilateral ties. China, Wen said, always adheres to a win-win strategy in opening to the outside world and insists on the maintenance of a fair and open market environment. He said China would never discriminate against foreign enterprises or products. The premier said China's determination to cope with climate change is firm, its operations active, and its measures effective. China, Wen said, is ready to enhance collaboration with Germany in developing new and renewable energy and maximizing energy efficiency. China also will participate in related negotiations and work with other countries to help bring about positive results at the December UN Conference on Climate Change in Copenhagen, Wen said. Merkel said Germany is very satisfied with the development of China-Germany relations. She said Germany is ready to work with China to maintain high-level exchanges, strengthen trade and economic cooperation, and oppose trade and investment protectionism. Germany also is prepared to jointly deal with the challenges brought about by the global financial crisis and advance bilateral ties, she said. Merkel said she hoped that the two countries would strengthen communications and jointly tackle the issue of climate change.
BEIJING, May 14 (Xinhua) -- Two revised rules involving a planned Nasdaq-style stock market, the Growth Enterprise Market (GEM), will take effect on June 14, according to the China Securities Regulatory Commission (CSRC) Thursday. The two rules involve establishing an independent committee to approve listings for the GEM and the management of sponsors of IPOs. The two rules are taken as a key step closer toward introducing the much-anticipated GEM, a board intended to nurture innovation-driven start-ups as the government tries to help smaller companies get financing and encourage technological advances. The rules are the same as the drafts issued on April 17 to solicit public opinions, said the CSRC. Under the rules, the new panel will have 35 members. Five will come from the CSRC and the others from the accounting, law and other sectors. The panel won't include members of the review panel for IPO application on the main board. Under the rules, the sponsors of IPOs on the GEM are required to monitor the companies' performance for three years, up from two for companies on the main board.
BEIJING, April 22 (Xinhua) -- China and Pakistan Wednesday praised the ties between their parliaments and both agreed to raise inter-parliamentary cooperation to a higher level. In his meeting with visiting Speaker of Pakistan's National Assembly Fahmida Mirza, Chinese top legislator Wu Bangguo noted that China always conducted its ties with Pakistan taking a strategic, long-term perspective and was committed to pushing forward bilateral relations. Wu, chairman of the Standing Committee of the National People's Congress (NPC), the top legislature, highlighted the growth of bilateral relations and expressed appreciation for Pakistan's support for China on issues relating to Taiwan and Tibet. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Speaker of Pakistan's National Assembly Fahmida Mirza, in Beijing, capital of China, April 22, 2009 China will firmly back Pakistan's efforts for national stability and development, Wu added. Wu said the NPC and Pakistan's National Assembly had forged friendly legislative ties. "I hope to see the two parliaments continue to cement cooperation at various levels and through various channels in a bid to expand mutual understanding and friendship between the two peoples," Wu said. Mirza said relations with China were always at the top of the agenda in Pakistan's foreign policies. Pakistan hoped to expand cooperation with China in fields such as transportation, energy and free trade, Mirza said. She also urged both countries to develop exchanges among female members of their legislatures. She also reiterated firm support for China's principle and position on issues relating to Taiwan and Tibet. Mirza's visit to China from April 21 to 27, her first, was made at the invitation of Wu. She will also visit the western city of Xi'an and the economic powerhouse of Shanghai.
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