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BEIJING, July 15 (Xinhua) -- Chinese shares continued Tuesday's rising momentum to hit a new high with Shanghai Composite Index closing at 3,188.55 on Wednesday, setting the highest close since June 2008 as coal, nonferrous metal and auto shares bolstered the rise. The benchmark Shanghai Composite Index gained 1.38 percent, or 43.39 points, to 3,188.55. The Shenzhen Component Index advanced 0.68 percent, or 88.19 points, to 13,079.26. Two investors talk at a stock trading hall in Guangzhou, capital of south China's Guangdong Province, July 15, 2009. The benchmark Shanghai Composite Index on the Shanghai bourse closed on Wednesday at 3,188 points, up 43 points, or 1.38 percent, from the previous close. The Shenzhen Component Index closed at 13,079 points, up 88.2 points, or 0.68 percent Total turnover jumped to 333.4 billion yuan (48.81 billion U.S. dollars) from 280.53 billion yuan on the previous trading day. Winners outnumbered losers by 537 to 302 in Shanghai and 427 to 304 in Shenzhen. Coal shares led the gains in the afternoon trading session with Jingyuan Coal Industry and Electricity Power Company Co. Ltd. and Shenhuo Coal and Power Co. Ltd. reaching the daily limit of 10 percent to close at 18.43 yuan and 28.27 yuan, respectively. Nonferrous metal shares gained as the industry forecasts a rebound in the second half of the year based on the recovery expectation of China's economy. Yuannan Copper Co. Ltd. and Jiaozuo Wanfang Aluminum Manufacturing rose by the daily limit of 10 percent to close at 24.68 yuan and 15.99 yuan, respectively. Auto shares performed well as the Chinese government unveiled details on Tuesday night of a subsidy program for auto replacement, a fresh measure to stimulate private spending and curb pollution. Chang'an Auto rose 8.67 percent to 11.15 yuan, and Guizhou Tyre advanced 6.41 percent to 13.29 yuan. Steel shares posted a widespread gain on the anticipation of increased demand from automobile, manufacturing and construction industries. Hangzhou Iron and Steel Co. Ltd. rose by the daily limit. Baosteel, the country's biggest steel maker, gained 1.46 percent to close at 8.36 yuan, setting its highest close in about a year. An old woman smiles in front of a share price screen at a stock trading hall in Shanghai, east China, July 15, 2009. The benchmark Shanghai Composite Index on the Shanghai bourse closed on Wednesday at 3,188 points, up 43 points, or 1.38 percent, from the previous close. The Shenzhen Component Index closed at 13,079 points, up 88.2 points, or 0.68 percent
SHANGHAI, June 19 (Xinhua) -- A senior Chinese leader has urged a severe crackdown on pornographic Internet content, stressing that there should be no slackening of efforts to punish the "vulgar trend" in the cyberworld. Li Changchun, member of the Standing Committee of the Communist Party of China Central Committee Political Bureau, made the remarks during a five-day tour of the nation's biggest city, Shanghai, that ended Friday. He said the construction of "green" website-surfing venues should be stepped up to offer minors a healthy social and cultural environment. While visiting the construction site of the Shanghai World Expo2010, Li said the expo should be a showcase of the nation's cultural prosperity. The expo would be another grand international festivity after the 2008 Beijing Olympics, Li said, noting that domestic and foreign journalists should be provided with favorable conditions in covering the event. The official also stressed the importance of technical innovation and cultural reform while visiting local manufacturing companies and artistic troupes.
BEIJING, June 27 (Xinhua) -- China's top legislature concluded its six-day, bimonthly session Saturday, after approving several laws, including one on rural land disputes aiming to ensure rural stability, President Hu Jintao signed decrees to publish the law on the mediation and arbitration of rural land contract disputes, the revised Law on Statistics and a decision to abolish eight outdated or redundant laws. The concluding meeting was presided over by Wu Bangguo, chairman of the Standing Committee of the National People's Congress (NPC), or top legislature. The closing session of the ninth session of the Standing Committee of the 11th National People's Congress is held in Beijing, capital of China, on June 27, 2009. The ninth session of the Standing Committee of the 11th National People's Congress, the top legislature, closed its latest six-day, bi-monthly session Saturday.The ninth session of the 11th NPC Standing Committee also adopted a revision to the government's 2008 final accounts, an audit report and a decision to lease land in Guangdong to Macao as a new site for the University of Macao. Wu said the law on the mediation and arbitration of rural land contract disputes is based on the actual condition of rural areas, giving consideration to the convenience of the broad masses of people, bring into full play the role of mediation and arbitration and specifying measures and procedures that provide a legal basis for settling rural land disputes and ensuring farmers' rights. "It's also significant in strengthening rural land operation systems, improving land contract relations and promoting rural development and social stability," Wu said. The revision to the Law on Statistics mainly focused on falsification in statistical work, Wu said, adding the revision improved the law by preventing official interference in statistical work, reinforcing responsibility and enhancing punishment so as to ensure the authenticity and credibility of data. "During the deliberation, members of the NPC Standing Committee agreed with the judgement that this year has been the toughest for the country's economic development since the new century," he said. Wu Bangguo (C), chairman of the Standing Committee of China's National People's Congress (NPC), addresses the closing session of the ninth session of the Standing Committee of the 11th National People's Congress, in Beijing, capital of China, on June 27, 2009. The government's fiscal revenue dropped in the first five months year on year, according to a report submitted to the session. Wu called on the State Council (cabinet) and relevant departments to take measures such as enhancing taxation while implementing structural tax reduction policies, improving the efficiency of fund use, practicing frugality, opposing extravagance and actively deepening fiscal system reform. He asked the departments concerned to rectify problems in implementing the budget, as found by audit authorities, and report to the top legislature the progress before the year-end. Officials involved in such problems would be punished according to law. Wu said lawmakers had been deeply concerned about the reconstruction of quake-hit areas in Sichuan Province after the region was struck by the May 12, 2008 quake, and heard a report about reconstruction at this legislative meeting. Lawmakers said the reconstruction work was "an important project concerning people's life and development" and efforts should be made to resolve housing problems for the poor as well rebuild public facilities such as schools, hospitals, transportation and water-conservation projects. SOCIALIST LEGAL SYSTEM The top legislature adopted Saturday the nullification of eight laws, including one covering police stations that dates back to 1954, as part of an effort to eliminate redundant, contradictory and obsolete laws. Wu said 2009-2010 was a key period in forming a socialist legal system with Chinese characteristics and the legislative work would be arduous. He urged improving the legislative work so as to ensure the goal of establishing a socialist legal system with Chinese characteristics by 2010, set by the Communist Party of China Central Committee in 1997. The socialist legal system basically took shape in 2007 and this 11th NPC Standing Committee set the legislative priority as improving legislative quality by enacting backbone laws soon as well as clearing obsolete ones, he said. Wu said overhauling laws was an important measure of improving legislation so as to ensure a scientific, integrated and harmonious legal system. As of June 26, 2008, China had 229 laws, with categories including the Constitution, civil and commercial law, administrative and economic law and criminal law, among others. He said the next step was to urge relevant departments to draft matching regulations. "When drafting laws in the future, efforts should be made to enact relevant regulations as well so that the regulations could take effect simultaneously with the law, or not too late behind the law, in order to ensure an effective implementation of the law," Wu said. He stressed that legislation in the pipeline should be completed in time. When revising or enacting laws, revision should be made collectively if disagreement was found in different laws or regulations, in order to ensure the legal system's integrity. The top legislature also adopted a decision to remove Xia Zhengui, a former Party secretary of Linfen in northern Shanxi, and Ji Chuntang, a former mayor of northern Shijiazhuang, from the post as NPC deputies. Ji was expelled for his role in last year's adulterated milk scandal. Xia was stripped of the post for a mine accident that caused 277 deaths last year. According to the Credentials Committee of the NPC Standing Committee, the total number of deputies to the 11th NPC now stands at 2,982. The meeting also appointed four senior officials to the Supreme People's Court and the Supreme People's Procuratorate.
SHARM EL-SHEIKH, July 16 (Xinhua) -- Chinese Vice Foreign Minister He Yafei, head of the Chinese delegation to the 15th Non-Aligned Movement (NAM) summit held in Egypt, said on Thursday China will continue to support NAM as always. "As one of the developing countries, China will continue to support NAM as always for it to play a role in international affairs and speak in one voice on issues related to the common interests of developing countries," said He. "This is the chief purpose of my presence at the summit on behalf of the Chinese government," he said in an exclusive interview with Xinhua on the sidelines of the summit. He said that though great changes in internal and external circumstances have taken place since its birth nearly half a century ago, NAM is still an important platform for developing countries to unite and strive to become stronger, with its tenet and spirit still showing great vitality. China, now an observer to NAM, has attached great importance to its ties with NAM and maintained good cooperation with the movement in international affairs. When NAM was formally established in 1961, then Chinese PremierZhou Enlai and other Chinese leaders sent congratulation messages to the founding conference, expressing support for the NAM's cause of independence, peace and development and its non-alignment policy. China became an observer to NAM in September 1992, when a Chinese governmental delegation, headed by then State Councilor and Foreign Minister Qian Qichen, attended the 10th NAM summit in the Indonesian capital of Jakarta. Since then, China has been a participant at every top NAM meeting. At the 15th summit which wrapped up on Thursday in the Egyptian Red Sea resort of Sharm el-Sheikh, the Chinese vice foreign minister reiterated China's policy in strengthening cooperation with NAM to safeguard world peace, stability and development, particularly in jointly addressing the global financial crisis. He told Xinhua that he has stressed in his speech at the summit that though the developing countries were not the maker of the global financial crisis, they are the most unfortunate victim. "This is unreasonable and unfair," he said. He said besides the economic crisis and financial crisis on the tongues of men all over the world, the world is actually facing an unprecedented development crisis. "Therefore, China has always urged the international community to attach great importance to the development issue when dealing with the financial crisis," the Chinese vice foreign minister said. He said the world should increase input in development and work towards the realization of the UN Millennium Development Goals, as well as paying attention to major global issues, such as energy and food. "If we don't do so, we will pay a higher price for our shortsightedness," He noted. He said that at the upcoming G20 summit in Pittsburgh and the 64th session of UN General Assembly, both slated for September, China will continue to push the international community to give prominent importance to the development issue. Chinese President Hu Jintao and Premier Wen Jiabao have repeatedly pledged that China would earnestly fulfill its aid commitments to other developing nations, despite the severe difficulties it is facing due to the financial crisis, He said. "We will continue to work together with other developing nations to strengthen unity and cooperation, weather through hardships and strive to build a harmonious world featuring lasting peace and common prosperity," He said. During the 15th summit, NAM member states reached consensus on promoting solidarity and ratified documents on jointly addressing international and regional issues. Founded in September 1961, NAM devotes itself to striving for the interests of developing countries all over the world. The movement now groups 118 member states, 17 observer countries and 10 observer organizations, comprising nearly two-thirds of UN member states and 55 percent of the world population.
BEIJING, May 11 (Xinhua) -- China's State Council Monday published a guideline to maintain current agricultural development and promote income for farmers. The guideline was issued on the Chinese central government's official Web portal www.gov.cn. It consists of 22 items in eight parts, calling for more efforts to expand domestic demand, promote exports and stabilize grains' prices. The guideline calls for more support for spring sowing, including pest control, guarding against natural disasters and science and technology services. It also stresses the importance of granting subsidies to farmers and setting grain prices.