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BEIJING, Nov. 8 (Xinhua) -- The output value of China's energy saving and environmental protection industry would hit 2.8 trillion yuan (412 billion U.S. dollars) by 2012, said Xie Zhenhua, deputy director of the National Development and Reform Commission on Sunday. Those sectors have become a new economic growth point and have bright prospects in China, Xie said at the fourth China-Japan Energy-saving and Environment Protection Forum which began Sunday. He said the government will beef up investment in the construction of resource recycling projects, which will directly boost the industry development. He noted the government will further reform the pricing system of the resource products. Enterprises should also enhance innovation to break technological bottleneck notably in the development of clean coal transfer technology and pollutants treatment facilities. China has been pushing for a national energy saving campaign to address the worsening conflicts between economic growth and environmental deterioration.
BEIJING, Dec. 31 (Xinhua) -- Chinese Vice President Xi Jinping Thursday urged improving the quality of Party officials at grassroots level. Xi, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks here while meeting with Wang Boxiang, former secretary of a county committee of the CPC, whom Xi described as the model of such officials in the new period. Wang, born in 1943, has been a local official for more than 30 years and won praises for keeping a just and thrifty working style. From 1986 to 1991, he was Secretary of the Shouguang County Committee of the CPC in east China's Shandong Province. He led local people to promote greenhouse vegetable production, develop alkaline soil, and launch industrial projects, which greatly boosted local economic growth and solved the imbalance of development between north and south of the county. Xi said Wang helped build a solid material foundation for the county's development and won acclaim from both local officials and people with his hard work and uncorrupted behaviors. Xi called upon other Party members and officials to learn from Wang and seek benefits for people while at the same time maintain a clean style in life and work.

BEIJING, Jan. 4 -- China International Capital Corp (CICC) topped the rankings of the underwriters of China's initial public offerings (IPOs) in 2009, making an estimated 1.23 billion yuan from fees, Bloomberg data showed. The earning of the country's largest investment bank was boosted by underwriting the China State Construction Engineering Corp's 50.1 billion yuan IPO, the world's second-largest in 2009. CICC also took two other heavyweight companies public, China Shipbuilding Co Ltd and China CNR Co Ltd, raising 14.7 billion yuan and 13.9 billion yuan respectively. CITIC Securities, the top underwriter in 2008, fell to the No 2 spot in the ranking, making 855 million yuan from IPO deals totaling 28.7 billion yuan, according to Bloomberg data. The third slot went to Orient Securities, which earned 258 million yuan from IPO deals worth 11.9 bllion yuan. IPOs are among the most lucrative advisory businesses for Chinese securities firms as China has witnessed an IPO boom since it reopened the market last June after a 10-month halt blamed on the widespread global credit crunch. Chinese securities companies saw an exponential growth in their revenues from the IPO business, making a total of 4.76 billion yuan from underwriting fees, doubling the 2.35 billion yuan in 2008. But the earnings still lagged far behind the 7.61 billion yuan made during the pre-crisis period in 2007. Last year, 43 Chinese securities firms helped 111 companies go public on the mainland's A-share market, raising 202.2 billion yuan. The value of the IPO deals taken by the top 10 underwriters accounted for more than 70 percent of the total IPO values. Market insiders said the IPOs of heavyweight companies will remain the target for large investment bank and securities companies such as CICC and CITIC Securities next year while small and medium securities companies will make start-up board ChiNext their primary focus. Stock prices of listed securities companies soared sharply in the past two weeks, mainly stimulated by unconfirmed reports that China's State Council has given the final nod for the introduction of index futures in 2010. Analysts said Chinese securities companies would likely see a surge in revenues this year after the regulators announce a clear timetable for the launch of the index futures, margin trading and short selling. "The new products will certainly boost the earnings and valuations of the brokerage stocks," said Cheng Binbin, an analyst with Qilu Securities "It not only means strong profit growth for securities firms in the future but also a gradual transition toward a more risk-diversified business model." It is forecast that margin trading and short selling will likely contribute 9.41 to 14.3 billion yuan in revenues of securities companies in 2010 while index futures will contribute 5.76 to 6.34 billion yuan. The net profit of China's brokerage industry may reach 90 billion yuan in 2009, a year-on-year increase of 90 percent, according to an estimate by Guotai Junan Securities. Meanwhile, foreign banks also grabbed a share of the lucrative pie of China's booming capital market last year with Swiss bank UBS ranked the largest underwriter of Chinese overseas IPOs. The bank contracted 8 million in underwriting fees from Chinese companies that sought IPOs in the Hong Kong market, worth a total of billion last year, Bloomberg data showed. Mergers and acquisitions (M&As) made by the Chinese companies remained the traditional cash cow for foreign investment banks in 2009. Morgan Stanley was the No 1 financial advisor in M&A deals worth .9 billion on the Chinese mainland and Hong Kong, according to Bloomberg data. The largest M&A deal in 2009 made by a Chinese company was the .5 billion acquisition of Swiss oil company Addax Petroleum by China's largest oil refiner, Sinopec.
SHANGHAI, Nov. 16 (Xinhua) -- President Barack Obama said here on Monday the United States would continue to fully support the one-China policy, and would be very pleased to see the improving cross-strait relationship. "I have been clear in the past the United States supports a one-China policy. We do not want change that policy or approach," he said during a dialogue with Chinese youth in the nation's economic hub Shanghai. "I am very pleased with the reduction of tensions and improvement of the cross-strait relations," he said. U.S. President Barack Obama gestures as he delivers a speech at a dialogue with Chinese youth at the Shanghai Science and Technology Museum during his four-day state visit to China, Nov. 16, 2009 He noted it was his "deep desire and hope" that he would continue to see great improvement between the Chinese mainland and Taiwan in resolving issues. Economic and commercial ties were helping to lower a lot of tensions, he said. He said as some people looked towards the past, he preferred to look towards the future. Obama arrived in Shanghai late on Sunday and met city officials Monday morning before his meeting with young Chinese.
BEIJING, Nov. 12 (Xinhua) -- The 2010 World Expo to be held in China is a chance both for the country and the world, said Premier Wen Jiabao at an international forum of the Shanghai Expo held here Thursday. The forum, with the theme of "collecting global wisdom, jointly creating cities' future," is of great significance to enriching the meaning of the 2010 World Expo and promoting its success, Wen said. Chinese Premier Wen Jiabao addresses the opening ceremony of the 7th World Expo 2010 Shanghai China Forum in Beijing, capital of China, Nov. 12, 2009. The premier said the Chinese expressed the wish to hold the World Expo in the country more than a century ago, but realized the dream only after the founding of New China and 30 years of rapid progress during the reform and opening-up drive. To be held in the most populous developing nation in the world, the World Expo fully shows its strong vitality, Wen noted. He said China would continue to go all out for the event's preparations. Chinese Premier Wen Jiabao (Back) addresses the opening ceremony of the 7th World Expo 2010 Shanghai China Forum in Beijing, capital of China, Nov. 12, 2009Wen also briefed on China's reaction on the global financial crisis and current economic situation. China has been active and responsible in coping with the global economic recession by earnestly dealing with its own business and comprehensively participating in international cooperation, Wen said. China has always been paying great attention to comprehensive, coordinated and sustainable development and sticking to the expansion of domestic demand, especially consumption, as a foothold during the process of economic stimulus, Wen said. Chinese Premier Wen Jiabao (R) talks with Vicente Loscertales (C), secretary general of the International Expositions Bureau, and Jean-Pierre Lafon, president of the International Expositions Bureau, after the opening ceremony of the 7th World Expo 2010 Shanghai China Forum in Beijing, capital of China, Nov. 12, 2009Facts show China's stimulus package is "timely, strong and effective," Wen said. China will strike an appropriate balance between maintaining economic growth, restructuring the economy and managing the inflation expectations, Wen said. China will continue to implement active fiscal policy and moderately loose monetary policy amid the mounting evidence of consolidated economic recovery, Wen said. Chinese government unveiled a 4-trillion yuan (586 billion U.S. dollars) stimulus package a year ago and industry stimulus and restructuring plans earlier this year for 10 sectors.
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