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LANZHOU, Jan. 18 (Xinhua) -- Chinese Vice Premier Li Keqiang urged the restoration of people's livelihood in the quake-hit regions during his visit in northwestern Gansu Province between Jan. 15 and Jan. 17. Some areas of Gansu were shattered by the devastating May 12 earthquake centered in Wenchuan of neighboring Sichuan Province last year. Chinese Vice Premier Li Keqiang (R) visits poor villager Liao Zhenxiang in Hedong Village of Longnan City, in northwest China's Gansu Province, on Jan. 16, 2009. Li Keqiang, also a member of the Standing Committee of the Communist Party of China Central Committee Political Bureau, made an inspection tour in Gansu Province from Jan. 15 through 17. Efforts should be made to ensure that all people in the quake-hit regions had enough food to eat, had clothes to resist the cold and were well housed in the freezing winter, Li said when visiting quake-affected villagers. More support should be given to speed up the building of permanent housing with a precondition that the quality must be guaranteed, he said. "Housing construction can not only help quake-affected people restore life as soon as possible, but is also helpful to boost investment, consumption and economic growth," he said. Villager Zhao Danlin (2nd L, front) displays his relief coupon to Chinese Vice Premier Li Keqiang (L, front) in the Longtou Village of Longnan City, in northwest China's Gansu Province, on Jan. 16, 2009He also called for quicker restoration of public facilities, which would serve the economic and social development in the quake-hit regions. During his visit in Longfeng Village, Li talked with some farmers who had returned because of employment difficulty in cities. There were lots of job opportunities in the country, he said. "You can go to the interior region if it is hard to find a job in the coastal area; you can shift to work in the service sector as job opportunities are limited in the industrial sector; you can also start your own business at your hometown without going outside." Li urged governments and departments concerned to provide more training and guidance to help rural workers get a job and guarantee a stable increase in employment.
BEIJING, Nov. 19 (Xinhua) -- Chinese shares staged a broad-based rebound on Wednesday, making up the previous day's losses after an overnight rally on Wall Street. The benchmark Shanghai Composite Index finished at 2,017 points, a gain of 6.05 percent. The Shenzhen Component Index rose 6.14 percent to 6,679 points. Combined turnover shrank to 120.81 billion yuan (17.26 billion U.S. dollars) from the previous day's 145 billion yuan. Gains outnumbered losses by 865 to eight in Shanghai and 743 to two in Shenzhen. Almost all sectors rose, with more than 200 stocks up by the daily limit of 10 percent. An investor looks at the electronic board in a stock exchange in Shanghai, east China, Nov. 19, 2008. The benchmark Shanghai Composite Index finished at 2,017 points, a gain of 6.05 percent The Shanghai index fell more than 6 percent on Tuesday over fears of a spreading global slowdown, exacerbated by profit-taking. Shares rebounded sharply in the afternoon on Wednesday as investors bought up energy and bank stocks, which had fallen heavily on Tuesday. Oil, telecom and banking sectors led the rise. Sinopec rose by 10 percent to 8.37 yuan. PetroChina was up 7.49 percent, closing at 11.91 yuan. China Citic Bank gained 6.51 percent to 4.42 yuan. Telecom shares surged on reports of an imminent approval of 3G licenses. China United Telecommunications rose 10 percent to 6.03 yuan. A Guangfa Securities note said the rebound showed investor confidence had risen after Tuesday's decline. The sharp rises of energy and banking stocks showed institutional investors were optimistic over market prospects.

BEIJING, Feb. 1 (Xinhua) -- China's Foreign Ministry has demanded that the U.S. Embassy to China facilitate travel for the families of those killed and injured in Friday's tour bus crash near the Hoover Dam in Arizona. In a statement released Sunday, the ministry confirmed that six Chinese nationals died and nine were injured, including one from Hong Kong. The Chinese Embassy in the United States and Consulate General in Los Angeles immediately dispatched a team assist U.S. authorities with treating the injured and investigating the accident. An official walks by a fatal tour bus accident that left seven Chinese tourists dead on US-93 near Dolan Springs, Arizona January 30, 2009. In collaboration with the Shanghai municipal government, the foreign ministry will send a task force to the United States to help deal with the accident, the statement said. The foreign ministry also notified the Hong Kong Special Autonomous Region government, regarding the Hong Kong residents involved in the crash.
BEIJING, Nov. 6 (Xinhua) -- The Agricultural Bank of China (ABC) on Thursday signed an agreement with Central Huijin Co., an investment arm of the government, for a 130-billion-yuan (19 billion U.S. dollars) capital injection in preparation for an eventual stock listing. Xiang Junbo, the state-owned bank's president, said the injection would boost the bank's capital base, improve its financial status and enhance its profitability. After the injection, Central Huijin and the Ministry of Finance each will have half of the bank's ownership. Lou Jiwei, head of Central Huijin's board of directors, said the company would help ABC improve its corporate governance to make it a modern commercial bank with global competitiveness. According to Xiang, ABC's profit grew 35 percent year-on-year to 98 billion yuan in the first three quarters. As of Sept. 30, deposits totaled 5.9 trillion yuan and loans 3.97 trillion yuan, rising by 690 billion yuan and 300 billion yuan, respectively, from a year earlier. The Agricultural Bank of China (ABC) on Thursday signed an agreement with Central Huijin Co., an investment arm of the government, for a 130-billion-yuan (19 billion U.S. dollars) capital injection in preparation for an eventual stock listing Of the loans, 1.39 trillion yuan went to agriculture-related projects, up 120 billion yuan year-on-year. Xiang said one of the bank's major tasks after the capital injection would be to develop its rural network and increase agricultural lending. The State Council, or the Cabinet, approved ABC's shareholding reform plan on Oct. 21.
BEIJING, Oct. 31 (Xinhua) -- Chinese shares dropped 1.97 percent on Friday, the month's last trading day. The benchmark Shanghai Composite Index lost 1.97 percent, or 34.82 points, to close at 1,728.79. The Shenzhen index was down 1.19 percent, or 70.33 points, to close at 5,839.33 points. The combined turnover was 35.23 billion yuan (5.03 billion U.S.dollars), compared with 49.35 billion yuan on the previous trading day. Losses outnumbered gains by 656 to 199 in Shanghai and 576 to151 in Shenzhen. Almost all sectors fell except industries related to aircraft making after the Commercial Aircraft Corporation of China Ltd. (CACC) announced Chinese indigenous regional jets would be sold to the United States, analysts said. CACC is not a publicly traded company. Coal companies suffered the most losses. Kailuan Clean Coal Co.lost 7.21 percent to 10.3 yuan. Taiyuan Coal Gasification Company fell 4.34 percent to 7.50 yuan. "I don't think the fall was related to recent mine accidents. It was a reflection of diminishing global energy demand," said Alex Xue, analyst with JL McGregor & Company. The finance sector also dropped by an average of 3 percent. CITIC securities lost 2.46 percent to 17.84 yuan. Bank of Communications fell 4.20 percent to 4.33 yuan. According to estimates from Friday's China Securities News, third-quarter profits of the country's 1,466 listed companies would fall 10.17 percent from the same period a year ago and 18.41 percent from the previous month to 206.09 billion yuan. Operating net cash flow fell 51.75 percent to 827.4 billion yuan in the first three quarters. Analysts said rising material costs and weakening demand led to slumping profits. The country's industrial output value growth slowed to 11.4 percent in September, the lowest rate since April 2002, the National Development and Reform Commission said on Thursday. Despite the latest rate cut, which was viewed as helpful to stabilizing the stock market, analysts said the market could possibly continue falling. The long-term affects from the rate cut are yet to been seen.
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