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BEIJING, Sept. 17 (Xinhua) -- The first seven companies applying for listing on the Growth Enterprise Market (GEM), a Nasdaq-alike market in China, have got green lights from the country's securities regulator on Thursday.     They are in the fields of software, medical equipment and medicines. They planned to raise 2.27 billion yuan (332.65 million U.S. dollars), from the IPOs, according to China Securities Regulatory Commission (CSRC).     "This means the seven enterprises are eligible to list on the market, but they still have some flaws in information issuance, which need to be improved," said Jiang Xinhong, a member of the review commission.     The flaws don't hinder the listings, but these enterprises should go through some necessary procedures before getting listed, said the CSRC.     The CSRC had received 155 applications for IPOs on the GEM as of Sept. 10, since it started to accept applications of the GEM on July 26.

WASHINGTON, Sept. 10 (Xinhua) -- Visiting top Chinese legislator Wu Bangguo on Thursday met with U.S. President Barack Obama at the White House on bilateral relations and international and regional issues of common concern.     Wu, chairman of the Standing Committee of China's National People's Congress, was the first top Chinese legislator that has visited the United States during the past two decades.     Before meeting with Obama, Wu met U.S. Vice President Joe Biden at the White House. Wu will hold talks with U.S. Secretary of State Hillary Clinton later in the day. Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress, meets with U.S. President Barack Obama at the White House in Washington, the United States, Sept. 10, 2009    On Wednesday, Wu met U.S. House of Representatives Speaker Nancy Pelosi, telling her that his visit aimed to promote further growth of the China-U.S. relationship, which is, in his words, one of the most important, dynamic and promising bilateral ties in the world.     Wu is here on a week-long official goodwill visit to the United States, the final leg of his three-nation tour to the Americas which also took him to Cuba and the Bahamas.Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress, meets with U.S. President Barack Obama at the White House in Washington, the United States, Sept. 10, 2009

BEIJING, Sept. 26 (Xinhua) -- Chinese farmers would see their income continue to rise this year, Vice Minister of Agriculture Chen Xiaohua said at a press conference Saturday.     "As China's economy is recovering, there are more and more positive factors supporting the increase of farmers' income," said Chen.     Farmers' per capita cash income in the first half of this year reached 2,733 yuan (400 U.S. dollars), up 8.1 percent year on year. But the increase rate was 2.2 percentage points slower than that in the same period last year, according to Chen.     "The growth is remarkable and the statistics are pleasing. However, China is still short of a long-term mechanism for increasing farmers' income and efforts need to be made to increase the channels for farmers to earn more money," said Chen.     In the past, farmers' income was mainly driven up by increased grain production or raised prices. "Now, we should push forward agricultural industrialization to let market guide grain planting and agricultural production," Chen said.     Chen also stressed the importance of creating more jobs for surplus rural laborers in a bid to increase their salary income.     The salary income mainly comes from the earnings from working in local or urban enterprises.     The economic crisis reduced the number of Chinese migrant workers, with the current number standing around 225 million. In the second quarter this year, this number increased 2.6 percent from the first.     Chen also said the government will increase fiscal support for farmers in subsidizing their purchase of seed, diesel, fertilizer and other production materials.     The central government always gives priority to increasing farmers' income, he said.     "Local authorities should make every effort to keep increasing farmers' income to shore up rural development and to ensure stable and rapid economic development," Chinese Vice Primer Hui Liangyu said at a rural work conference held in China's eastern city of Hangzhou from Thursday to Friday.

MOSCOW, July 30 (Xinhua) -- Chinese merchants will be allowed to retrieve their goods in a closed Moscow market, the head of a Chinese coordination group said on Thursday.     A Chinese coordination group on Thursday discussed with Moscow's consumer department the clearing up of Chinese merchants' stalls in the Cherkizovsky market as well as the transferring of their goods.     The Russian side agreed to take further steps to safeguard the market's order and to work with the Chinese side to crack down on the illegal activities, said Cai Guiru, head of the temporary Chinese coordination group and chairperson of the Chinese Chamber of Commerce in Russia.     It is agreed that Chinese merchants will be allowed to clean up their stalls and ship out their merchandise during a specific period of time every day, Cai said.     The Russian side took "sincere and earnest" attitudes towards the handling of the market closure, in the hope that most of the Chinese merchants will be able to retrieve their goods safely, she said.     This meeting is helpful and the Russian side heard positive opinions from Chinese vendors, said Georgy Smoleyevcky, first deputy head of the Moscow Consumer Market and Services Department.     The Russian side will make conclusions accordingly and give instructions to relevant departments, he said, expressing the hope that complaints from Chinese traders will be less and less in future.     The official also dismissed the speculation that a Chinese shopping mall will be built in the place of the closed Cherkizovsky, Russia's biggest wholesale market.     The coordination group, formed under the auspices of the Chinese embassy in Russia in July, involves heads of China's provincial chambers of commerce.     Russian police abruptly shut down the nearly 300-hectare market in northeastern Moscow on June 29, after the disclosure of various illegal and irregular operations in the market by the Russian Federal Supervision Service for Consumer Rights Protection and People Welfare.     A Chinese senior delegation, led by Vice Minister of Commerce Gao Hucheng, reached broad consensus with the Russian side on the closure issue.

HONG KONG, Sept. 28 (Xinhua) -- The launch of Renminbi sovereign bonds in Hong Kong on Monday shows China's efforts to boost the international use of the yuan step by step, officials and analysts said.     The bond issue, worth only 6 billion yuan (878.5 million U.S. dollars), marked a key milestone in the internationalization of the RMB.     Hong Kong was chosen for, and will benefit from, the milestone bond sale thanks to its unique position as the international financial center providing desired cushion against the potential risks when the program was launched, analysts said.          BOOSTING INTERNATIONAL USE OF RMB     The bond issue in Hong Kong came earlier than expected, said Hu Yifan, an economist with CITIC Securities.     "The need for the RMB to go international and convertible has been growing along with the increasing importance and openness of the Chinese mainland economy and the risks arising from over- reliance on the United States dollar as the reserve currency," said Tse Kwok-leung, head of economic research of Bank of China ( Hong Kong) Limited.     China has been launching pilot RMB programs over the years, but the pace has obviously quickened since the onset of the global financial crisis. Pilot RMB programs launched in Hong Kong over the past 12 months also included yuan-denominated cross-border trade settlement and trade financing, yuan bonds issued by policy banks, commercial lenders and the branches of foreign banks, and currency swaps.     The sovereign bond issue would help "boost the international use of the RMB in a steady and orderly manner," the Chinese Ministry of Finance quoted Acting Chief Executive of the Hong Kong Special Administrative Region (HKSAR) Henry Tang as saying.     The sovereign bond sale in Hong Kong serves the purpose of water testing to "see how it is received by international investors." Hong Kong has a unique strength in that it provides the desired cushion against potential risks when the pilot programs were launched, given that the mainland capital market was yet to open up, Tse said.          BOOSTING NASCENT BOND MARKET IN HONG KONG     The bond issue ahead of the Chinese National Day showed the central government's support for Hong Kong, Vice Minister of Finance Li Yong said.     It will help Hong Kong build on its strength as an international financial center by boosting the nascent bond market in Hong Kong, Tse Kwok-leung said.     "It calls for a banking system, a stock market and a bond market, all developed, to make a developed international financial center," Tse explained.     Hong Kong has been aspiring to be the leading international financial center in the Asian time zone.     Government statistics showed that the total assets of Hong Kong's banking system and the size of its stock market were both about six times its gross domestic product, compared with a bond market equivalent to 43 percent of its gross domestic product.     Bonds issued in Hong Kong in 2008 totaled 424.4 billion HK dollars (54.4 billion U.S. dollars), with 67 percent issued by the Hong Kong Foreign Exchange Fund, which was established to defend the Hong Kong dollar peg to the U.S. dollar.     The other 33 percent were accounted for by development banks from outside Hong Kong and corporate bonds issued by local players. There were no sovereign bonds.     Tse said the bond issue will also help improve the liquidity of, and diversify, the local bond market. It will also improve the operation of the RMB bond market in Hong Kong by helping find the benchmark interest rate in the local market.     Tse said the demand for sovereign bonds issued by an economy as strong as the Chinese mainland was huge, given the impact of the global financial crisis on the corporate bond market.     Vice Minister of Finance Li Yong also said he believed the bonds will be well received.     "I believe the RMB sovereign bonds will prove popular with investors looking for safe and prudent investments. I definitely think it will be successful," Li said.