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BEIJING, Aug. 12 (Xinhua) -- Prices of real estate in 70 major Chinese cities rose 7.0 percent in July on the same month of last year, 1.2 percentage points lower than the June level, according to the National Development and Reform Commission (NDRC) and the National Bureau of Statistics on Tuesday. The NDRC, the country's top economic planning organ, said the growth rate had slowed down for six consecutive months. The price rise was 11.3 percent in January, 10.9 percent in February, 10.7 percent in March, 10.1 percent in April, 9.2 percent in May and 8.2 in June. Visitors view models of apartment buildings in a real estate fair in Jinan, capital of east China's Shandong Province, on April 5, 2008. In July prices of new housing went up 7.9 percent, 1.3 percentage points lower than the month-earlier level. Haikou, Urumqi, Ningbo and Beijing took the lead in price rises. Seventeen cities experienced prices fall compared with the month earlier, including Haikou, Dali, Shenzhen and Chengdu among others. Prices of second-hand houses gained 6.0 percent year on year, 1.5 percentage points lower than June. New housing for non-residential use was priced 4.9 percent higher than last July, with prices of office buildings up 6.7 percent and those of commercial real estate up 4.1 percent.
TOKYO, May 1 (Xinhua) -- Japanese Prime Minister Yasuo Fukuda met on Thursday with 10 representatives of Chinese students studying in Japan, delivering friendly messages before the upcoming visit of Chinese President Hu Jintao to Japan. "We warmly welcome President Hu to Japan," said Fukuda in the talks with the Chinese students at his residence. He said that despite some problems in bilateral ties, he hoped that the Chinese students will, under whatever circumstances, recognize the importance of Japan-China relations and strive for their development. China is a major power in the world, and the performance of a major power has direct bearing on world stability, said the Japanese prime minister, adding that Japan hopes to foster a relationship with China that helps make joint efforts for world stability. Li Guangzhe (R), a Chinese student who is also head of the Chinese students' association in Japan, presents to Japanese Prime Minister Yasuo Fukuda an album commemorating the 110th anniversary of Chinese students studying in Japan in Tokyo, May 1, 2008. Japanese Prime Minister Yasuo Fukuda met on Thursday with 10 representatives of Chinese students studying in Japan, delivering friendly messages before the upcoming visit of Chinese President Hu Jintao to Japan Enquiring about their campus life from time to time, Fukuda encouraged the Chinese students to work hard and make due contributions to the Japan-China friendly relations. The Japanese government and universities provide Chinese students with very favorable conditions for their study, said Li Guangzhe, a Chinese student who is also head of the Chinese students' association in Japan. Li said that the Chinese students are determined to play a positive role in promoting China-Japan friendship while studying in Japan. Chinese President Hu Jintao is scheduled to pay a state visit to Japan from May 6 to 10.

BEIJING, June 17 (Xinhua) -- Chinese shares sank to a 15-month low on Tuesday in very low volume, amid weak investor confidence. The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row. The Shenzhen Component Index fared worse, sinking 4.03 percent, or 395.77 points, to 9,429.50. The Hushen 300 Index, which reflects about 60 percent of the combined market value in Shanghai and Shenzhen, closed at 2,842.68 points, down 109.57 points, or 3.71 percent. Investors read information at a stock trading hall in Shanghai, China, June 10, 2008. The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row Total turnover was just 67.5 billion yuan (9.65 billion U.S. dollars). Financial, oil and petrochemical, real estate, mining, transportation and broker stocks led the plunge. China Merchant Property, for example, dipped 7.36 percent to 16.12 yuan. A man looks at the electronic board showing the stock index at a securities exchange in Shanghai, east China, June 17, 2008. The Shanghai index slid through the 2,800-point mark, touching 2,799.33 points at midday, shortly after the National Bureau of Statistics said the growth rate of fixed-asset investment slowed in the first five months. Urban fixed-asset investment rose 25.6 percent year-on-year to 4.026 trillion yuan in the first five months of 2008. The growth rate was 0.3 percentage points below the same period last year and 0.1 percentage point less than the January-April period this year. Analysts said the market was also being undermined by surging world oil prices, weakening regional economies and the government's efforts to curb liquidity and tame inflation. The People's Bank of China, the central bank, earlier this month lifted the bank reserve ratio by a full percentage point to 17.5 percent.
WASHINGTON, Oct. 13 (Xinhua) -- A senior Chinese official said on Monday that China will continue to cooperate with other countries to cope with the current financial crisis. "For the international community, the most urgent task is to join efforts to stem further deterioration and spread of the crisis -- the major threat to global growth -- and restore global economic and financial stability," said Yi Gang, vice governor of the People's Bank of China "China will continue to strengthen its cooperation with concerned countries and hopes that all governments will work together to overcome the current difficulties and restore international financial stability," he said in a statement at the annual meeting of the International Monetary Fund and World Bank. He urged the two Bretton Woods Institutions to "fulfill their mandates to maintain global monetary and financial stability and facilitate sustainable, balanced growth." The fund should give the surveillance priority to the ongoing financial turmoil, deepen its analysis, learn lessons, and listen to the opinions of member countries, said the senior official of China's central bank. "From the medium- and long-term perspective, the fund must address the inherent deficiencies of the current international monetary system and foster an international financial architecture adaptive to the evolving global economy and financial markets," he noted. As the largest multilateral development institution, the World Bank should re-assess the challenges confronting the developing countries -- soaring food and fuel prices, higher financing costs, deteriorating balance of payments positions, and mounting inflationary pressures, said Yi Gang. "With the advantages of its financing capacity and expertise, the World Bank should urge the developed countries to shoulder their due responsibilities in stabilizing the global economy through targeted measures, carried out in an even-handed and professional fashion," he said. Yi Gang also stressed the fundamentals of the Chinese economy are "solid and resilient." "We are confident we can weather the financial turmoil," he said. "With the global economic slowdown, it is important that China maintains its stable and relatively rapid growth."
FUZHOU, July 28 (Xinhua) -- Typhoon Fung Wong, the eighth tropical storm to hit China's coast this year, made landfall in the southeastern Fujian Province on Monday, according to the provincial observatory. The eye of the powerful typhoon landed at Donghan Town of Fuqing City at 10 p.m. with winds of up to 119 km per hour. Vehicles splash through a flooded street in Fuzhou City, capital of southeast China's Fujian Province, July 28, 2008. Typhoon Fung Wong, which was lashing Taiwan on Monday morning, continued to strengthen as it headed toward the southeastern coast of mainland China, according to the observatory of Fujian Province. Though in the eye, Donghan Town saw no rainstorm or strong wind. "Heavy rains and winds are expected after the eye leaves the town," an official with the flood control office of Fuqing City said. Before the typhoon landed, Fuqing had seen torrential rain with 205 millimeters falling from midnight to 8 p.m. on Monday. In Puxia County, the power was cut off as 15 electricity transmission lines and 498 transformer stations were damaged. But no casualties were reported. The typhoon is also likely to bring more heavy rains and strong winds in coastal areas of the province early on Tuesday. The rainfall could exceed 200 millimeters, the meteorologists forecast. Offshore, winds could increase to force 12, while in the coastal cities, force 7 to 9 winds were expected, according to the latest forecast of the provincial meteorological station. Torrential rains were forecast to hit the cities of Ningde, Putian and Quanzhou as well as the provincial capital Fuzhou. Boats bump on waves along the coast of Changle, Fuzhou City, capital of southeast China's Fujian Province, July 27, 2008Typhoon Fung Wong lashed Taiwan on Monday morning, affecting the whole island with wind and rain, just a week after tropical storm Kalmaegi killed 19 people and left six others missing on the island. Fung Wong will be the strongest tropical storm so far this year, and will strike along China's eastern and southern regions with heavy rain and strong winds, according to observatories in Fujian, Guangdong, Zhejiang and Jiangxi provinces. The authority of the eastern Zhejiang Province has issued an alert on geological hazards in Wenzhou, Lishui and Taizhou cities from Monday midnight till Tuesday. Under the typhoon's influence, heavy rain will continue till Wednesday in the province. Zhejiang has evacuated 338,573 people and called back 27,656 fishing boats by late Monday, according to the provincial flood control and drought relief headquarters.
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