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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, Nov. 27 (Xinhua) -- Chinese President Hu Jintao's participation in the Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Lima on Nov.17-26 and his state visits to Costa Rica, Cuba, Peru and Greece are rich in content and fruitful in result, Chinese Foreign Minister Yang Jiechi said here Thursday. As the world financial situation is becoming increasingly grave and China-Latin America, China-Greece relations are entering a new phase of historical development, President Hu's trip is of great significance in enhancing international cooperation to cope with global financial crisis and boosting the further growth of China-Latin America, China-Greece ties. During his visit, Hu attended more than 70 activities and signed over 30 cooperation agreements with different countries. Hu was received with the highest courtesy and great warmth in all the countries he visited. The visits have also attracted great international and local media attention and been given heavy coverage. Chinese President Hu Jintao delivers a speech during the Asia-Pacific Economic Cooperation (APEC) CEO summit in Lima, capital of Peru, Nov. 21, 2008. The APEC 2008 CEO Summit kicked off in the Peruvian capital on Friday to address growth, free trade, sustainable development, APEC's relationship with the global economy and other issues ENHANCE INTERNATIONAL COOPERATION AGAINST FINANCIAL CRISIS At the meetings, President Hu Jintao stressed the importance for international community to strengthen confidence, cooperation and coordination to tackle jointly the current financial crisis, maintain world financial stability, and promote global economic growth. Hu proposed a number of measures to solve the current crisis, including strengthening coordination of macro-economic policies, curbing the spread of financial crisis through all necessary fiscal and monetary means to avoid a possible global economic downturn. He proposed to adhere to the right orientation in establishing a new international financial order that is fair, just, inclusive, and orderly. Necessary reforms should be carried out in international financial system by following the principles of comprehensiveness, balance, step by step and effectiveness to create the system environment for the sound development of the world economy. He also proposed to change the existing mode of unsustainable economic growth in an effort to solve the deep-seated problems in economic growth of various countries. Hu also called for support to the developing countries struck by the financial crisis to help keep the momentum of their economic development. BOOSTING STABLE DEVELOPMENT OF PRAGMATIC COOPERATION AMONG APEC MEMBERS At the meeting, Hu put forward five-point proposals on dealing with major global issues of common concern. He urged APEC member economies to build consensus and promote sound development of the multilateral trading regime. He also urged them to take up responsibilities and jointly tackle climate change. In addition, APEC member economies should enhance exchanges and cooperation and join forces to combat natural disasters, he said. Efforts should be made to regulate guidance and strengthen corporate social responsibility, he added. The Chinese president also stressed the importance for APEC members to take coordinated actions and ensure world food and energy security. On APEC's future development, Hu said APEC should maintain its nature of a forum for economic cooperation and its approach of conducting cooperation on a non-binding basis. He said that the APEC members should continue to promote balanced progress in economic and technical cooperation and trade and investment liberalization. "In particular, we should increase input in economic and technical cooperation to enhance capacity-building in developing members and narrow the development gap." Hu also presented proposals on tackling climate change, combating natural disasters and boosting the exploration of human resources. He expressed China's willingness to help finance the network for Asia-Pacific forest restoration and sustained management, and host the APEC Human Resources Development Ministerial Meeting in 2010. The proposals have drawn widespread welcome and support from the participating members.

BEIJING, Jan. 20 (Xinhua) -- Senior Communist Party of China (CPC) leader Zhou Yongkang underscored the importance of the rule of law in the country on Tuesday. Zhou, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks when addressing the 6th congress of the China Law Society at the Great Hall of the People in Beijing. President Hu Jintao, top legislator Wu Bangguo, Premier Wen Jiabao and Vice President Xi Jinping also attended the session. In his address to the congress, Zhou first expressed appreciation and respect to all Chinese law workers for their contribution to the country. Zhou said building a country ruled by law has always been the pursuit of the Chinese people. He said after China initiated its reform and opening up drive 30 years ago, the country has seen remarkable progress in the improvement of its legal system, law education and research. The principle of rule of law is the premise of the development of China and the well-being of the Chinese people, he said. Zhou encouraged law workers in China to make further contributions to the country by giving advice on the country's development and safeguarding people's livelihood, thus help the country maintain economic growth and social stability. Law workers must bear the people-first principle in their minds and try to safeguard the interests of the people according to law, when making or enforcing laws, and when providing legal services. He also called for law workers to continue to popularize law education among the Chinese public, so that the whole society is encouraged to learn the laws, abide by the laws and use the laws to protect themselves. Local party and government departments must help address the difficulties of law workers in order to create a favorable environment for law education and research and cultivate more law talents, Zhou demanded. The China Law Society was founded in 1949 as a national association of legal scholars, jurists, law practitioners and an academic body of legal sciences. The society has now more than 140,000 members.
BEIJING, Jan. 26 (Xinhua) -- China is to promote the use of energy-efficient and new-energy vehicles in public sector in 13 cities, the Ministry of Finance (MOF) said here Monday. According to a joint statement by the MOF and the Ministry of Science and Technology, the central government will offer one-off subsidy for the purchase of mixed-power, electric and fuel-cell vehicles. The statement said the subsidy will be decided by the gap between the prices of energy-efficient vehicles and automobiles powered by traditional fuel. The program will be put into trial in public transport, taxi industry, postal and urban sanitary services in 13 cities including Beijing and Shanghai. The program is aimed at facilitating the technology upgrading and structural optimization of the automobile industry, said the statement. Local governments should also allocate funds for the building and maintenance of related facilities, said the statement.
BEIJING, Nov. 8 (Xinhua) -- Chinese President Hu Jintao and U.S. president-elect Barack Obama Saturday discussed in a telephone conversation relations between China and the United States and major international issues of common concern, including the ongoing global financial crisis. In the telephone conversation, Hu expressed appreciation to Obama for emphasizing in his election campaign speeches the great importance of China-U.S. relations, and for advocating the strengthening of China-U.S. cooperation in jointly responding to global challenges and in sharing global development opportunities. Hu pointed out that since the establishment of diplomatic relations between the two countries 30 years ago, bilateral relations have generally kept developing despite setbacks, scoring hard-earned achievements and bringing about tangible interests to both nations. As the largest developing nation and the largest developed nation, China and the United States share extensive common interests on issues related to world peace and development, and both assume important responsibility in this regard, Hu said. In the new historical period of time, China is willing to maintain high-level exchange with the United States and also contacts at all levels, continue strategic dialogue with the United States, increase exchange and cooperation between the two countries in all fields, and strengthen the exchange of opinion and coordination with the United States on major international and regional issues, the Chinese president noted. China and the United States should respect each other and accommodate each other's concerns, and appropriately settle sensitive issues between the two countries, particularly the Taiwan issue, in order to promote the China-U.S. relations of constructive cooperation to a higher level, he said. Speaking on the same occasion, Obama said that China is a great nation and that China's development and success meet U.S. interests. On today's international arena, U.S.-China relations are relations of vital importance. The development of U.S.-China relations is not only in the interest of both nations, but also benefits the world, Obama said. Saying that U.S.-China relations face many development opportunities, Obama expressed the hope that the United States and China will strengthen cooperation, and promote greater development of bilateral relations, to bring benefits to both nations. The United States hopes to strengthen consultation and coordination with China on security, climate change and regional hotspot issues, to promote settlement of the relevant issues. Hu pointed out that the current global financial crisis has seriously impacted economic development and people's livelihood in all countries around the world. The international community should increase confidence, strengthen coordination and have close cooperation, in effectively dealing with this global challenge. A world economic summit will be held in Washington on Nov. 15, and China attaches great importance to it. China is willing to discuss with other participants in the summit how to adopt powerful measures to reestablish market confidence as early as possible, how to prevent the global financial crisis from proliferation and spreading, and how to diminish its impact on real economies, in a bid to avert a possible global economic recession, Hu said. The global financial crisis has led to the exposure of many deep-hidden drawbacks of the global financial system. The international community should earnestly sum up the lessons from the global financial crisis and launch necessary reforms of the global financial system, on the basis of sufficient consultation among all interested parties, Hu said. In particular, efforts should be made to explore in an in-depth way solution of such major questions as how to strengthen international financial supervision and regulation, how to improve the system of international financial organizations and how to improve the international monetary system, the Chinese president said. Obama said that settlement of the global financial crisis requires close cooperation by governments of all countries, expressing the hope that the United States and China will strengthen cooperation at the world economic summit planned for November 15 in Washington.
来源:资阳报