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NEW DELHI, Sept. 9 (Xinhua) -- China-India relationship stands at a new starting point, the two should view and approach relations from a strategic and long-term perspective and keep moving forward their partnership to benefit the two countries and peoples, visiting Chinese Foreign Minister Yang Jiechi said here Tuesday. He made the remarks in his speech titled "For Peace and Friendship, Win-Win Cooperation and Common Development" at a meeting held by the Indian Council of World Affairs and the Institute of Chinese Studies. Chinese Foreign Minister Yang Jiechi delivers a speech titled "For Peace and Friendship, Win-Win Cooperation and Common Development" at a meeting held by the Indian Council of World Affairs and the Institute of Chinese Studies in New Delhi, India, Sept. 9, 2008Yang said China and India are the two biggest developing countries in the world. He quoted Chinese President Hu Jintao as saying that China-India friendship not only serves the interest of both countries but also benefits Asia and the world at large. He said there is no conflict of fundamental interests between China and India. "What we have are broad common interests. We are partners, not rivals. There is a lot that we can do together to further our friendship and cooperation. We should view and approach our relations from a strategic and long-term perspective and keep moving forward our partnership in the new century to the benefit of our two countries and peoples." To this end, he proposed that efforts are needed to be step up in the five areas between the two countries: increase exchanges and enhance strategic mutual trust, boost economic cooperation and trade for win-win progress, expand people-to-people and cultural exchanges, strengthen cooperation in multilateral for a to uphold common interests, address each other's concerns and properly handle differences. "Today, our relations stand at a new starting point. Without friendly relations and mutually beneficial cooperation between China and India, there would be no development and prosperity of our respective countries, no harmony and rejuvenation of Asia, and no peace and progress of the world," he said. Yang arrived in India last Sunday. He attended the inauguration ceremony of China's consulate-general in Kolkata, the capital of West Bengal, met and reached agreement with the West Bengal's Governor and Chief Minister on ways to deepen friendly and multi-faceted cooperation between China and West Bengal. He called upon Indian Prime Minister Manmohan Singh and held talks with Indian External Affairs Minister Pranab Mukherjee in Delhi Monday. The two sides had an in-depth exchange of views and reached broad agreement on ways to further implement the common understanding reached by leaders of both countries and deepen the China-India strategic and cooperative partnership as well as issues of mutual interest.
BEIJING, Oct. 9 (Xinhua) -- China's securities regulator on Thursday said publicly-traded companies must pay dividends in cash rather than stock over three years before submitting their refinancing applications. The move could help to encourage long-term investment and reduce market volatility, the China Securities Regulatory Commission (CSRC) said. The benchmark Shanghai Composite Index has plunged 66 percent from its record high last October. In a new regulation stipulating cash dividend payment by listed companies, the CSRC said: "The listed firms, if applying for refinancing, must pay dividends in cash totaling no less than 30 percent of its distributed profits over the past three years." The regulation went into effect on Thursday. In the draft version released in August, companies were allowed to pay dividends either in cash or stock. The listed firms were also ordered to reveal their cash dividend policies and previous cash dividend data to investors in their annual reports to improve transparency. "The listed company should give reasons why it failed to pay a cash dividend if it is able to and where the money goes," according to the rule. Cash dividends could offer stable investment returns and prompt large institutional investors to reduce speculation on the secondary market, the regulator said. A couple of huge refinancing plans earlier this year triggered a market plunge on concerns over stake dilution and liquidity stress. In a separate regulation on share buy-back, also effective on Thursday, the CSRC said it allowed a cash dividend payment when the controlling shareholders bought stocks on the secondary market. Such action was banned in the draft version released in late September to solicit public opinion. Share buy-back through bidding at stock exchanges also no longer needs regulatory approval. The CSRC added it would continue to revise the rules on stock buy-back and also give consideration to repurchase through agreement or tender offer.

BEIJING, Oct. 5 (Xinhua) -- China's National Bureau of Statistics (NBS) under new chief Ma Jiantang is likely to reform its statistical system to ensure the authenticity and timeliness of data and help the government to better cope with the uncertainties of outside economic influences, the minutes of an NBS meeting show. After his inauguration as the NBS director, Ma has said he felt pressure, but was confident of taking over "the baton of statistical reform and development." "The changing world economy, especially the financial turmoil triggered by the U.S. sub-prime mortgage crisis, had increased the uncertainties of China's macro-economic development and stability and set new tasks for statisticians," said Ma. "I would like to work with all NBS staff together to advance reforms and innovations in statistical systems, indices and methods to make sure statistical work could better serve the pursuit of scientific development to shift the target of economic expansion from quantity to quality, and building a moderately prosperous society." According to the minute, Ma gave no details of his reform plans. But his predecessor, Xie Fuzhan, who was transferred to head the Research Office of the State Council, admitted in his leaving speech that the foundation for China's statistical work remained feeble, with a lot to be done in optimizing statistical methods and management. "Both the status of statistical departments and the capability of statisticians needs to improve to meet their obligations and fulfill their tasks," Xie said. He took up the post two years ago after his predecessor Qiu Xiaohua fell over fund scandal. Authorized by the State Council to examine and calculate the economic output nationwide and to collect and compile economic figures for almost all industries and sectors, the NBS offers basic statistical information and policy advice for higher authorities and government departments. Ma, a doctor of economics who graduated from the Chinese Academy of Social Sciences, viewed authenticity and timeliness as "the lifeblood of statistics work" and "the way for statisticians to conduct themselves". He said the essence and core of statistics was to reflect facts, analyze real situations and seek truth, according to the minute. Ma also urged NBS staff to resist all fabrications of data, secure the quality of figures and work with professionalism. Under the current management system, local statistical departments serve two bosses, with the NBS giving them statistical assignments but local governments in charge of their personnel and finance. The NBS was only authorized to assist governors, municipal mayors and autonomous region chiefs in managing the heads of NBS branches. Prestige-minded local officials looking for advancement have often tested the integrity of statisticians within their jurisdiction. To remedy the situation, China's legislature revised the implementation rules of Statistics Law in 2006, which authorized NBS investigation teams to undertake independent statistical surveys and reports in all provinces, municipalities and autonomous regions. Under the Statistics Law, leading members of local authorities who alter statistical data without authorization, fabricate statistical data, compel or prompt statisticians to tamper with figures will be subject to administrative sanctions. Officials who retaliate against statisticians who refuse to fabricate data face criminal penalties. After more than two decades of sizzling growth at the cost of depleted resources, increased energy consumption and environmental damage, the Chinese economy is undergoing a tough rebalancing that puts more emphasis on quality than quantity. As global economic slowdown could dampen exports -- a major growth engine -- more than expected, the government has become increasingly careful with monetary tools like interest rates, deposit reserve ratios as well as industrial and fiscal policies so as not to plunge the expanding economy into recession. Senior decision-makers have been demanding precise and more timely statistics for earlier warnings in the event of slowdown or other ailments. Ma was appointed vice governor of Qinghai in December 2004 and used to work with the State Economic and Trade Commission and the Assets Supervision and Administration Commission of the State Council.
SHANGHAI, April 16 (Xinhua) -- A press release from the Chinese Foreign Ministry said here Wednesday that the six-nation talks on Iran's nuclear issue had reached an "important consensus" to formulate a plan to restart negotiations on Iran's nuclear issue. The press release said that the attendant parties had profound and constructive discussions on the next steps, however, it did not offer any further information about what the consensus was. Officials from China, United States, Russia, Britain, France, Germany and the Council of European Union gather in Shanghai to discuss a plan to restart negotiations on Iran's nuclear issue April 16. The involved parties all agreed to maintain close communication and consultation in an effort to continue their discussions on some unsolved issues concerning the plan, the press release added. At the invitation of Chinese Assistant Foreign Minister He Yafei, officials from China, United States, Russia, Britain, France, Germany and the Council of European Union gathered in Shanghai to discuss a plan to restart negotiations on Iran's nuclear issue. However, the meeting was overshadowed by Tehran's latest defiant moves, by announcing that the country had tested a new advanced centrifuge and started to install 6,000 new centrifuges at Natanz nuclear plant. Chinese Assistant Foreign Minister He Yafei(C) speaks at the meeting attended by officials from China, United States, Russia, Britain, France, Germany and the Council of European Union in Shanghai April 16."Today a new machine was put to test," Iranian President Mahmoud Ahmadinejad said in a televised speech on the occasion to mark Iran's National Day of Nuclear Technology on Tuesday evening, adding that "It is smaller," but its capacity "is five times greater than the current machines", according to Iran's official IRNA news agency. According to the press release, during the meeting, He reiterated China's call for a peaceful resolution of the issue through diplomatic negotiations, urging the concerned parties to reinforce their diplomatic efforts, demonstrate their flexibility to work out a concrete and creative plan to resume the negotiation on the final comprehensive and long-lasting settlement of the issue. The meeting itself is aimed at further carrying out the consensus reached in a statement by the six foreign ministers, the press release added. The 15-member United Nations Security Council adopted Resolution 1803 on March 3, which included travel restrictions and bans for more Iranians, an expansion of asset freezes, curbs on dual-use nuclear items, export credit, financial monitoring, cargo inspections on aircraft and vessels, and possible "next steps." The foreign ministers of the six countries issued a statement after the vote, saying that Resolution 1803 reflected "the international community's serious concerns about the proliferation risks of the Iranian nuclear program." "We remain committed to an early negotiated solution to the Iranian nuclear issue and reaffirm our commitment to a dual-track approach," the statement said. "We remain ready to negotiate future arrangements, modalities and timing ... once the conditions for negotiations have been established."
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