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BEIJING, March 31 (Xinhua) -- China has announced the launch of a long-awaited growth enterprise board on May 1 as a new direct financing platform for innovative companies. Companies that seek listing at the new Nasdaq-like second board should have net assets of at least 20 million yuan and be open for business for more than three years, the country's securities regulator said in a set of guidelines that was made public in the small hours Tuesday and take effect on May 1. The Shanghai Composite Index gained 15.17 points, or 0.64 percent to 2,373.21 on Nasdaq-style second board launch in China, Mar.31,2009 The China Securities Regulatory Commission also requires the issuer stay in the black for the recent two consecutive years with combined profits of at least 10 million yuan, or report profits of at least 5 million yuan for the most recent year on revenues of at least 50 million yuan, with annual revenue growth of at least 30 percent in the recent two years. A CSRC spokesman called the move "an important measure to improve the structure of China's capital market and expand the market's depth and width." The proposal of establishing a second board was first put forth more than a decade ago. In 2004, a mini second board for small and medium-size enterprises was set up at the Shenzhen Stock Exchange to test the waters.. Small and medium-size enterprises have long been a pillar in China's economy, which has grown to the world's third largest
BEIJING, Feb. 24 (Xinhua) -- Chinese President Hu Jintao has called for greater awareness of both hardships and opportunities presented by the global financial crisis in order to offset the impacts of the crisis. In a speech to the Communist Party of China (CPC) Central Committee Political Bureau on Tuesday, Hu said China must be prepared for the most difficult and complicated situations in the world economy and meanwhile make good use of or create development opportunities amid the transformation of international and domestic conditions. The world economic situation was austere and complicated; the global financial crisis had yet to level out; and China's economic growth was under pressure of a slow-down, he said. He said no fundamental changes had occurred in the country's basic economic development situation, its advantageous conditions for economic development, its accelerating trend of industrialization and urbanization, and the external environment of peace, development and cooperation. "The strong Party leadership, the advantages of the socialist system, and the united efforts of our people of all ethnic groups are the strength for us to overcome the difficulties and withstand the impacts of the global financial crisis," he said. The government should maintain the policy of giving top priority to increasing domestic demand while stabilizing external demand, he said. He called for more powerful and efficient measures to increase domestic demand, consumer demand in particular. He urged continuing to make the reform and opening-up a powerful driving force for economic growth, actively pushing forward reform in key areas and links. Hu urged all Party committees and governments to deepen the implementation of the "scientific view of development" and "carry out the decisions and arrangements of the central authorities in a creative way". Hu, General Secretary of the CPC Central Committee, presided over Tuesday's panel study of the Politburo, at which two scholars explained world economic situation and ways to boost economic growth. The lecturers were Zhao Jinping, of the State Council's Development Research Center, and Bi Jiyao, of the Macro-economic Research Institute under the National Development and Reform and Commission.

ISLAMABAD, April 18 (Xinhua) -- A 100-member-strong youth delegation of Pakistan is to leave for China on Sunday on a week-long visit as a program of boosting exchanges between the two friendly countries. "The youths from all walks of life of Pakistan will have the chance to look at China and know more about China," said Charge d'Affairs Yao Jing of Chinese Embassy in Pakistan told youth delegation at a reception. Chinese President Hu Jintao invited 500 young people from Pakistan to visit China within five years when he paid a state visit to Pakistan in November, 2006. The program was launched in 2007. The program is aimed at "increasing mutual understanding" between the two countries and peoples, said Yao. Ullah Saif Shervani, secretary of Pakistani Ministry of Youth Affairs, expressed the hope that the delegation members could take the opportunity to learn from "friendly China" and help enhance "time-tested friendship" between the two countries. "I appreciate the Chinese government for the chance to visit," said Adil Taj, an university student in Islamabad. "We will work hard to make our own contribution to Pakistan-China friendship." The youth delegation is scheduled to visit Beijing, Urumqi and Lanzhou from April 19 to 27.
WUHAN, Feb. 20 (Xinhua) -- Pakistani President Asif Ali Zardari arrived here Friday evening, kicking off his second China visit at the invitation of the Chinese government. During his stay at this capital city of central China's Hubei Province, Zardari was expected to pursue Sino-Pakistani cooperation in agriculture and water conservancy. He will also meet with the local governor. On behalf of the Chinese government, State Councilor Dai Bingguo will meet with Zardari here. Zardari will visit the Three Gorges Project in Yichang city to study its management and technology. Zardari was scheduled to leave Hubei for Shanghai, China's financial hub, on Sunday to continue his China tour. He was particularly interested in finance, banking, large-scale construction and Shanghai's urban development, according to the Ambassador of Pakistan to China. China believed the visit would consolidate the two countries' all-weather friendship and deepen all-round cooperation, Foreign Ministry spokeswoman Jiang Yu said earlier. Zardari paid his first state visit to China as guest of President Hu Jintao in October last year.
PATTAYA, Thailand, April 11 (Xinhua) -- China, Japan and South Korea agreed here Saturday to continue pushing forward the Six-Party talks aimed at realizing denuclearization of the Korean Peninsula. The consensus was reached when Chinese Premier Wen Jiabao, Japanese Prime Minister Taro Aso and South Korean President Lee Myung-bak met here to discuss the recent rocket launch by the Democratic People's Republic of Korea. Discussions about related issues should be conducive to maintaining the progress of the Six-Party talks, peace and stability on the Korean Peninsula and in Northeast Asia, Wen said. Chinese Premier Wen Jiabao meets with Japanese Prime Minister Taro Aso(r) and President of the Republic of Korea (ROK) Lee Myung Bak(l) in Pattaya, Thailand, on April 11, 2009 Any action that may further complicate the situation should be avoided, he emphasized. The three leaders also agreed to strengthen cooperation between China, Japan and South Korea and push forward their cooperation with the Association of Southeast Asian Nations. The three leaders expected to meet in China later this year for the second summit of Chinese, Japanese and South Korean leaders.
来源:资阳报