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BEIJING, June 30 (Xinhua) -- Chinese Vice President Xi Jinping on Tuesday called for members of the Communist Party of China (CPC) to continue to work toward the benefit of the people they serve.     Xi, also member of the Standing Committee of the CPC Central Committee Political Bureau, made the remarks in a meeting with outstanding representatives of CPC members here on Tuesday, one day ahead of the CPC's 88th birthday.     He urged CPC members to serve the people heart and soul, consider their public when making decisions and embrace law and justice in their work.     CPC members should keep close contact with their public, serving them and creating benefits for them, he said. Chinese Vice President Xi Jinping (C), also member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, speaks in a meeting with outstanding representatives of CPC members in Beijing, China, June 30, 2009, one day ahead of the CPC's 88th birthday. He Guoqiang, member of the Standing Committee of the CPC Central Committee Political Bureau, also attended the meeting    All CPC members should constantly upgrade their ability to work for the Party and the people through diligent study and face challenges head on to help shoulder party responsibilities, he added.     CPC members are also required to maintain positive moral images.     He Guoqiang, member of the Standing Committee of the CPC Central Committee Political Bureau, also attended the meeting.

JINAN, June 29 (Xinhua) -- Chinese Premier Wen Jiabao has encouraged domestic enterprises to make breakthroughs in science and technology development to weather the global financial crisis.     Wen made the remarks during his inspection tour in east China's Shandong Province from Saturday to Sunday. It had been the Premier's fourth consecutive weekend inspection tour outside Beijing this month. Wen said the government would continue the current proactive fiscal policy and moderately ease monetary policy and take it a top task to keep a steady economic growth.     In JinJing Group, China's first glass-manufacturing company with a history of 105 years, Wen was pleased to see the company had gained steady sales increase with its independently-developed new products amid the global downturn. Chinese Premier Wen Jiabao talks with workers at a workshop of Weiqiao Textile Company Ltd. in east China's Shandong Province. Wen Jiabao made an inspection tour in Shandong from June 27 to June 28    Wen said that technological breakthroughs were fundamental and long-term solutions which should be relied on to fight against the economic downturn.     He urged the enterprises in Shandong to provide better environment for young talent to contribute their ability and wisdom to technology development.     When inspecting Jigang Group, Wen asked the steelmaker to improve its products' competitiveness by carrying out technological innovation, cutting manufacturing cost and developing energy-efficient products.     Wen also visited privately owned Shandong Weiqiao Textile Company, the largest cotton textile enterprise in Asia with more than 150,000 employees.     He said China's textile industry, which was strongly affected by export market, had encountered many difficulties caused by the global financial crisis.     Wen urged efforts to create an environment of fair competition and fight against monopoly to facilitate the development of private companies.     "It is a must to attach importance to the development of private businesses and private fund investment in an effort to deal with the financial crisis and boost economic growth," he said.     Wen said coping with the financial crisis and overcoming difficulties in economic development both serve the purpose of improving people's livelihood and better development of individuals.     Only when people's lives are improved and secured, will the economic development have a true meaning, Wen said.

BEIJING, May 26 (Xinhua) -- China's central government has allocated 270 billion yuan (about 39.7 billion U.S. dollars) for infrastructure investment so far this year, a National Development and Reform Commission (NDRC) official told legislators Tuesday.     That amount is part of a planned total of 367.6 billion yuan in the 2009 central budget.     Adding another 30 billion yuan from last year's budget meant that the country had already allocated 300 billion yuan to infrastructure investment since the fourth quarter of last year, NDRC vice director Mu Hong told legislators.     The NDRC is China's top economic planning body.     Mu made his comments during a session on major public investment projects held by the Standing Committee of the National People's Congress, the top legislature.     The money is also part of the 4-trillion-yuan, two-year stimulus plan announced late last year as the economic downturn deepened.

BEIJING, June 10 (Xinhua) -- China is ready to end a de facto suspension of initial public offerings (IPOs) on the Shanghai and Shenzhen stock exchanges, after the securities regulator unveiled Wednesday the final guidelines for new IPOs.     The China Securities Regulatory Commission (CSRC) said the guidelines would take effect Thursday.     An unidentified CSRC spokesman said the commission will give approvals to applying firms any time after the guidelines become effective.     The commission announced draft guidelines on May 22 to solicit public opinions till June 5. The new guidelines aim to improve the price discovery function of the stock market, and help retail investors subscribe to newly issued stocks.     The draft said the quotation system for new issues should be revised so that issue prices faithfully reflect market demand, and lead underwriters should take steps to avoid "unreasonably" high prices.     Under the new rules, stock subscribers need to use either the online or off-line subscription system, but not both, to purchase new stocks. Institutional investors used to enjoy the privilege of subscribing through both systems, while retail investors could use only the off-line system.     Three revisions were made to the draft to follow public advices that the commission deemed reasonable.     The final version said a single investor is refined to use one account only to purchase new stocks, as some institutional investors have multiple accounts. The revision is aimed to help more smaller investors get access to new stocks.     In addition, the commission said it would consider to increase the number of tradable stocks in response to suggestions the lock-down of too many stocks would do no good to curb speculation.     However, the spokesperson said shares lock-down of large shareholders would remain in place, as it is aimed to prevent frequent changes in managerial staff that could jeopardize a firm's operation and create risks and the practice is followed on many overseas markets.     The commission also added the content about improving the "clawback" and the offering suspension mechanisms upon requests of the public. The "clawback" mechanism is used in the event that the deal is subscribed by 100 times or more.     The CSRC effectively suspended all new stock issues last September, as it halted approvals. Since then the stock market has plunged more than 50 percent from its peak 6124.04 in October 2007,compared to Wednesday's closing.     The CSRC spokesman anticipated that the first few new IPOs may not be satisfactory (in boosting the market), but he believed that the goals of the new guidelines could be achieved over time, which would play a positive role in boosting the market in the long run.     A total of 32 firms are on the waiting list to launch their IPOs on the A-share market, expecting to issue a combined more than 14 billion shares.     China State Construction Engineering Corp. is expected to issue12 billion shares.

BEIJING, June 2 (Xinhua) -- The China Investment Corporation (CIC), the country's sovereign wealth fund, announced Tuesday that it decided to buy 1.2 billion U.S. dollar common stocks in Morgan Stanley's 2.2-billion-U.S.-dollar common stock offering.     Morgan Stanley announced Tuesday it had priced a public offering of common equity of 2.2 billion U.S. dollars. The proceeds are intended to fully redeem the preferred capital of the Troubled Asset Relief Program (TARP) before the end of June.     The TARP is a program of the United States government to purchase assets and equity from financial institutions in order to strengthen its financial sector. It is the largest component of the U.S. government's measures in 2008 to address the subprime mortgage crisis.     Morgan Stanley notified the CIC of the offering in light of its healthy business relationship with CIC and the preemptive rights CIC holds. CIC plans to participate in this offering, according toa notice on its Web site.     CIC was optimistic in Morgan Stanley's future development as "Morgan Stanley is widely expected to be able to leverage on its strengthened financial position and will be on the road of resuming its successful trajectory amid the dramatic restructuring of the international financial services industry".     On December 19, 2007, CIC purchased 5.6 billion U.S. dollars mandatory convertible securities into Morgan Stanley common stock, representing approximately 9.86 percent equity ownership in Morgan Stanley.     However, after Mitsubishi UFJ Financial Group, Inc.'s investment in Morgan Stanley in October 2008, CIC's equity ownership was diluted to approximately 7.68 percent.     This new purchase would bring CIC's equity ownership in Morgan Stanley back to approximately 9.86 percent, effectively reducing CIC's overall cost basis and increasing the returns potential, said CIC.     According to a statement posted on Morgan Stanley Web site Tuesday, it has priced a public offering of approximately 80.2 million shares of common stock to the public at 27.44 dollars per share.     CIC has agreed to purchase 44.7 million shares of common stock at the public offering price while the Mitsubishi UFJ Financial Group, Inc. has agreed to buy 16 million shares, the Morgan Stanley statement said.