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BEIJING, Sept. 17 (Xinhua) -- China's securities authority Thursday began reviewing applications of the the first seven IPOs for listing on the Growth Enterprise Market (GEM), a Nasdaq-style market in China. The seven enterprises covered fields of software, medical equipment and medicines. They planned to raise 2.27 billion yuan (332.65 million U.S. dollars). The review meeting was for the first time opened to journalists, who were allowed to watch the meeting for about ten minutes. The second batch of IPOs will be reviewed Friday and they plan to raise 1.13 billion yuan (165.30 million U.S. dollars), according to a report on the website of the China Securities Regulatory Commission (CSRC). IPO review meetings would be concentrated on these days, a CSRC official, who declined to be named, told Xinhua Monday. "IPO applications sent to the regulator were concentrated. The regulator had to take into consideration forming a block and guard against speculation that might push up IPO stocks prices," the official said. The CSRC started to accept applications of the GEM on July 26 and had received 155 applications for IPOs on the GEM as of Sept. 10. The CSRC has formally agreed to handle 149 enterprises' applications that aim to raise 33.61 billion yuan (4.92 billion U.S. dollars).
BEIJING, Aug. 6 (Xinhua) -- As typhoon Morakot gains momentum and churns toward China's mainland, provinces in coastal regions are busy bracing for its impact. By 5 p.m. Thursday, the typhoon was located at 23.3 degrees north and 126.7 degrees east, about 780 kilometers away from Wenzhou, a major city in Zhejiang Province, meteorological authorities said. It was expected to land in the eastern Zhejiang or Fujian provinces between Saturday noon and Sunday morning. Soldiers help fishermen go to safe zone in the rain in Taizhou City, east China's Zhejiang Province, Aug. 6, 2009. It is predicted that the typhoon Morakot will land off the seashore in east China's Zhejiang Province and southeast China's Fujian Province from Saturday noon to Sunday morning.In Zhejiang province 2,076 ships had returned to harbor by 3 p.m. while passenger liner services in Wenzhou and Taizhou cities were suspended. More than 900 Chinese and foreign tourists have been evacuated from from the resort Nanji Island, and measures taken in scenic areas near the coast to assist tourists. Seventeen teams comprising 138 soldiers are preparing for emergencies, and working with local officials to ascertain potentially hazardous areas. In adjacent Fujian province, nearly 8.4 million short messages had been sent to mobile phone users by 5:30 p.m., warning them to prepare for the typhoon. Soldiers help fishermen transport cases of fish in Putian City of southeast China's Fujian Province, Aug. 6, 2009. Provincial flood control and drought relief headquarters ordered fishing boats and construction vessels to seek shelter in harbors before 6 p.m. Thursday. As of 6 p.m., more than 1,200 vessels had returned to harbors and 5,242 people had been evacuated in Fujian's Ningde, Putian and Fuzhou. Sea waves as high as six meters battered fish farms. Weather forecasters said the most severe typhoon this year would push sea waves in the coastal areas to up to nine meters high when it approaches. Fishing vessels are seen in the Shenjiamen Port to avoid typhoon in Zhoushan City, east China's Zhejiang Province, Aug. 6, 2009Local authorities have warned the public to pay attention to weather forecasts and be aware of the rainstorms and other typhoon-related disasters. More than 180 policemen are on duty in Quanzhou city, helping those in danger areas to evacuate. Morakot, which strengthened into typhoon Wednesday afternoon, is also expected to whip up gales in Shanghai from Saturday to Monday. Meteorological stations in the city have cautioned relevant departments to brace for emergencies. Soldiers help fishermen strengthen rafts in Wenzhou City, east China's Zhejiang Province, Aug. 6, 2009.Experts in Guangdong Province say although the typhoon won't land there its impact could be great. Bilis, a 2006 typhoon landed in Fujian but tens of thousands of people in Guangdong were affected. The experts considered Morakot might have a big influence in the eastern part of Guangdong, and soak the province in torrential rains. The eighth tropical storm this year, Morakot was formed on the heels of Goni, which unleashed downpours in Guangdong destroying 732 houses. "The two storms could influence each other," said Wang Zhenming, vice head of the Zhejiang provincial meteorological station. "As a result, the route of Morakot is not fully predictable." He warned Morakot was likely to continue growing in strength and become a super typhoon. China is frequently affected by tropical storms in summer. The most destructive one recently occurred in 2006, when super typhoon Saomai claimed more than 400 lives.
HONG KONG, July 20 (Xinhua) -- A photo exhibition opened here Monday to mark the 30 anniversary of the establishment of China-U.S. diplomatic relations. The nearly 300 photos on display range in time from as far back as the voyage to China of the American trading ship Empress of China in 1784, to the G-20 Summit in London this year. Guests attend the opening ceremony of a photo exhibition marking the 30th anniversary of the establishment of the China-U.S. diplomatic relations in Hong Kong, south China, July 20, 2009. Nearly 300 photos were displayed in the exhibition.The photos reflect important economic, political and cultural events in the growth of the relations between the two countries, portraying a history of building bridges of understanding and cooperation between the two countries through high-level visits as well as the actions of thousands of individuals, companies, student groups and civic organizations. "China-U.S. relations have made remarkable progress since 1979,with the joint efforts of four generations of Chinese leaders and seven U.S. presidents as well as the people of both countries," said Tung Chee-hwa, vice chairman of the National Committee of the Chinese People's Political Consultative Conference, at the opening ceremony. Tung Chee-hwa (Front), vice-chairman of the National Committee of the Chinese People's Political Consultative Conference, visits a photo exhibition marking the 30th anniversary of the establishment of the China-U.S. diplomatic relations in Hong Kong, south China, July 20, 2009. Nearly 300 photos were displayed in the exhibition, opened on July 20. He said that the exhibition will provide an opportunity for people to know further about the importance of Sino-U.S. relations so that they will make greater efforts to promote the relations. Also speaking at the ceremony, U.S. Consul General in Hong Kong and Macao Joseph R. Donovan said that U.S.-China relations had been marked by success and challenges. "Despite the scale of the task we have faced, each succeeding generation of leaders, diplomats, and individuals has broadened and strengthened the U.S.-China relations," he said, noting that the exhibition offers "snapshots" of their dedication and efforts. A woman visits a photo exhibition marking the 30th anniversary of the establishment of the China-U.S. diplomatic relations in Hong Kong, south China, July 20, 2009. Nearly 300 photos were displayed in the exhibition, opened on July 20. "Given Hong Kong's role as one of China's gateways fostering the interplay of culture and ideas between our two nations, it is quite fitting that we come together, in Hong Kong, to celebrate thirty years of cooperation between the U.S. and China," he said. The exhibition is jointly presented by the Office of the Commissioner of the Ministry of Foreign Affairs of China in the Hong Kong Special Administrative Region, Chinese People's Association For Friendship with Foreign Countries and China-U.S. Exchange Foundation, in association with the Xinhua News Agency and some other media groups.
TAIPEI, Aug.15 (Xinhua) -- Typhoon Morakot has killed at least 124 people and left 56 missing in Taiwan as of 10 p.m. Saturday, according to local disaster response authorities. Another 45 people were injured after the typhoon, the worst on the island in nearly five decades, wreaked havoc across central and southern regions. Sixty-six people died in Kaohsiung, 25 in Tainan, 16 in Pingdong, six in Chiayi, seven in Nantou, three in Changhua and one in Yunlin. Nearly 23,700 people have been evacuated, and almost 5,000 are taking refuge in 170 sheltering camps. Morakot has caused more than 12 billion New Taiwan Dollars (365million U.S. dollars) in damages to agriculture and forestry. Among the worst-hit regions are Pingdong, Kaohsiung and Tainan. People from a wide range of social sectors in Taiwan have donated cash and materials worth millions of New Taiwan Dollars to support the disaster-relief work. Photo taken on Aug. 14, 2009 shows a house buried by debris flow in Kaohsiung, southeast China's Taiwan Province.Charities and enterprises on the mainland also offered relief-assistance to the island. On Saturday, an official with the Taiwan Work Office of the Communist Party of China (CPC) Central Committee, said the mainland will provide any necessary relief materials needed by Taiwan compatriots affected by the typhoon. The office has requested factories to manufacture portable shelters day and night, and the first batch is expected to arrive in Taiwan Monday at the soonest. Villagers search for lost belongings in a damaged village in Kaohsiung, southeast China's Taiwan Province, Aug. 14, 2009
BEIJING, Aug. 17 (Xinhua) -- State-run companies in China should stick to the leadership of the Communist Party of China (CPC), Vice President Xi Jinping said Monday. Xi made the remarks at a meeting held here to promote Party building in China's state-run enterprises. Party building lay at the core of the competitiveness of state-run enterprises, Xi said, adding that "the CPC's leadership over the enterprises should be upheld unswervingly... in order to help enterprises retain scientific development". Li Yuanchao, head of the Organization Department of the CPC Central Committee, said at the meeting that bosses of the state-run companies headquartered in Beijing should increase the Party organs' involvement in the companies' decision-making process. Party organs should participate in the process of the state-run companies' major decisions made by the companies' board meeting to ensure that they could play supervising functions, Li said. Meanwhile, He Yong, deputy secretary of CPC Central Commission for Discipline Inspection (CCDI), urged the bosses of the country's state-run companies to be cleanhanded. Restrictions and supervision over power should be intensified for the main leaders of the companies, He said, adding that the anti-corruption effort inside the state-run companies was an important part of the mechanism's construction. The state-run companies' bosses should also enhance their discipline education and loyalty to the Party, the official said. The anti-corruption effort in the state-run companies came after former chairman of Sinopec Chen Tonghai was sentenced to death last month with a two-year reprieve for taking huge bribes. Chen took about 195.73 million yuan (28.66 million U.S. dollars) in bribes from 1999 to June 2007 by taking advantage of his positions in Sinopec, one of the country's major oil refiners. Also present at Monday's meeting was Vice Premier Zhang Dejiang, who stressed that the top priority of state-run enterprises at the moment was to maintain steady and relatively fast development.