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BEIJING, Dec. 23 (Xinhua) -- Industrial and Commercial Bank of China (ICBC), China's largest lender by market value, announced Thursday that it has completed its 44.9 billion yuan(about 6.75 billion U.S. dollar) rights issue in Shanghai and Hong Kong.The dual-listed lender said in a statement to the Shanghai Stock Exchange that it had raised 13.04 billion Hong Kong dollars (about 11.18 billion yuan) from the Hong Kong portion of its rights issue by selling 3.74 billion shares at a price of 3.49 Hong Kong dollars.The Beijing-based bank said it had sold 11.3 billion shares at 2.99 yuan in the Shanghai market, which was 99.72 percent subscribed and had raised 33.67 billion yuan in late November.The ICBC said the fund raising aimed to replenish its capital base.The bank's core capital adequacy ratio stood at 9.33 percent by the end of September this year, while its capital adequacy ratio was 11.57 percent. In the first three quarters of this year, the ICBC saw net profits up 27.1 percent year on year to 127.8 billion yuan.Shares of the bank closed flat at 4.18 yuan in Shanghai and was down 0.35 percent to 5.7 Hong Kong dollars in Hong Kong.
BEIJING, Dec. 3 (Xinhua) -- China's central government pledged on Friday to support the northeastern region by boosting its development of modern agriculture.A guideline, mapped out by the National Development and Reform Commission and the Ministry of Agriculture, was publicized by the General Office of the State Council, or cabinet, on the central government' s official website www.gov.cn.The guideline expects the region to harvest more than 100 million tonnes of grain annually by 2015.Northeastern China should catch up with developed countries in terms of land output rates and labor production rates, according to the guideline.The northeastern region in the guideline refers to Liaoning, Jilin, Heilongjiang Provinces and the Inner Mongolia Autonomous Region.

QINGDAO, Jan. 6 (Xinhua) -- Chinese maritime authorities Thursday added two large sea surveillance ships to its fleet in a bid to better protect the country's maritime rights and interests.The two patrol ships, in the 1,000- and 1,500-tonne classes, respectively, were added to the North Sea fleet of the China Maritime Surveillance Force in the eastern coastal city of Qingdao.They will be used to crack down on violations of China's maritime interests, illegal use of Chinese seawaters and damages to its sea environment, resources and infrastructures, said Fang Jianmeng, head of the North Sea branch of the State Oceanic AdministrationThe ships will also patrol China's waters to monitor polluting incidents, said Fang.This is part of a 1.6-billion-yuan (241-million U.S. dollar) plan the State Council, or China's cabinet, unveiled in 1999 to add 13 1,000-tonne-plus sea patrol ships and five patrol helicopters to patrol the nation's waters.The first group of six large patrol ships and two helicopters joined the China Maritime Surveillance Force under the State Oceanic Administration in November 2005.A senior official of the China Maritime Surveillance Force, who declined to give his full name, told Xinhua that the agency has finished building the second group of three patrol ships and has purchased three helicopters."The remaining four vessels will be put into use before June this year," said the official, surnamed Wu.The fleet expansion came as China is facing an increasingly heavier burden of safeguarding its seas rights and interests, said Wu.China's Ocean Development Report 2010 released last May said the country's maritime rights and interests faced complicated situations and safety threats.These include sovereignty over islands, sea delimitation, sea resources disputes, protecting the sea environment and new challenges such as delimitation of the continental shelf, safe passage on the seas and terrorism, it stated.China has a coastline of 32,000 km and 350,000 square km of territorial seawaters and internal waters. It also has 3 million square km of its exclusive economic zone as recognized under the United Nations Convention on the Law of the Sea."Given the large sea territory, China's maritime surveillance force remains weak, even after all 13 patrol ships join the fleet," said Wu. "They're far from meeting all of our demands."Even following the expansion, the fleet would have only 47 patrol ships, with 26 in the 1,000-tonne-plus class, Wu added.Apart from the three fleets under the China Maritime Surveillance Force that cover the Bohai Sea, the Yellow Sea, the East Sea and the South Sea, the coastal provinces and municipalities also have their own regional sea patrol forces.The regional forces planned to start building 36 sea patrol vessels this year to expand the county's sea surveillance fleet, Wu added.The expansion is among the key measures that help protect China's maritime interests and promote a sustainable ocean economy, said Zhang Hongsheng, deputy director of the State Oceanic Administration.
BEIJING, Dec. 13 (Xinhua) -- A top Chinese political advisor on Monday called it an "important political task" to help non-communist party members learn and practice the country's socialist core value system.Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the remarks Monday at a meeting on promoting the socialist core value system.The concept of "socialist core value system" was publicized for the first time at the Sixth Plenum of the 16th Communist Party of China (CPC) Central Committee in 2006, at which time the CPC highlighted the importance of creating a " harmonious socialist society."Jia Qinglin (1st R), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), shakes hands with Yang Jia, a member of Jiu San Society, also the vice chairperson of the United Nations Committee on the Rights of Persons with Disabilities attending a meeting on promoting the socialist core value system in Beijing, capital of China, Dec. 13, 2010. The Party explained that the value system should consist of Marxism, socialism with Chinese characteristics, patriotism, the spirit of reform and innovation and the socialist sense of honor and disgrace.Jia called upon various Party committees to focus on promoting the steady and healthy development of multi-party cooperation, and help solve problems for members of non-communist parties.
ASTANA, Nov. 9 (Xinhua) -- China's top political adviser, Jia Qinglin, on Tuesday pledged to enhance political and security ties with Kazakhstan.Jia, chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee, arrived in Astana on Tuesday afternoon for a three-day official good-will visit to Kazakhstan.Upon his arrival, Jia met Oral Muhamedjanov, chairman of the lower house of the Kazakh parliament."The Chinese-Kazakh relations always kept a sound and quickly developing momentum," Jia said, highlighting the enhanced strategic ties, political mutual trust, and support for each other on issues that concern the core interests of the two countries.Jia Qinglin (L), chairman of the National Committee of the Chinese People's Political Consultative Conference, shakes hands with Muhamedjanov, chairman of Mazhlis, or the lower chamber of the Kazakh parliament during their talks in Astana, Kazakhstan, Nov. 9, 2010. China and Kazakhstan have reached consensus on a series of issues this year, 18 years after the two countries established diplopmatic relations.Jia appealed to the two sides to increase high-level visits, boost substantial cooperation between the two reciprocal economies, promote people-to-people contact and humanitarian exchange, especially on the organization of events such as the Asian Games in the southern Chinese city of Guangzhou and the Asian Winter Games in Kazakhstan in January.He called for further security cooperation between the two countries and among the members of the Shanghai Cooperation Organization (SCO), urging the two states to exert greater effort in fighting the three evil forces of terrorism, separatism and extremism.China will also enhance coordination and cooperation with Kazakhstan within multilateral frameworks such as the United Nations, the SCO and the Conference on Interaction and Confidence-Building Measures in Asia (CICA), in a bid to safeguard common interests and cope with global and regional challenges, Jia said.Muhamedjanov agreed with Jia, saying that Kazakhstan will tap potential for bilateral cooperation in such sectors as energy, environmental protection, agriculture and cross-border water resources.
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