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BEIJING, Dec. 27 (Xinhua) -- Chinese stocks weakened Monday after the nation's central bank hiked rates on Saturday and amid speculation further monetary policy tightening to combat inflation is in the offing.The benchmark Shanghai Composite Index fell 1.9 percent, or 53.76 points, to finish at 2,781.4, following the central bank's decision to raise the benchmark one-year lending and deposit interests rate by 0.25 percentage points, its second rate hike in just over two months.The Shenzhen Component Index fell 2.02 percent, or 253.66 points, to end at 12,303.19 points.Combined turnover increased to 224.44 billion yuan (33.85 billion U.S. dollars) from 185.28 billion yuan the previous trading day.An investor watches a screen at a stock trading hall in Shanghai, Dec. 27, 2010. China's stock market dropped Monday. The benchmark Shanghai Composite Index lost 1.90 percent, closed at 2,781.40. The Shenzhen Component Index dropped 2.02 percent, closed at 12,303.19.Losers outnumbered gainers 834 to 76 in Shanghai and 1,125 to 89 in Shenzhen.China's consumer price index (CPI), a main gauge of inflation, rose to a 28-month high of 5.1 percent year on year in November.Besides hiking rates, China's central bank has increased banks' reserve requirement ratio six times this year, taking it to 19 percent for some banks.Shares of property developers dropped. China Vanke, the nation's largest real estate developer, lost 2.89 percent to 8.75 yuan. China Everbright Bank fell 3.7 percent to 3.91 yuan. PetroChina, China's biggest oil producer, declined 2.28 percent to 11.16 yuan.Coal producer shares gained 1.74 percent amid gains in international crude oil prices.China Shenhua Energy Co., China's biggest coal producer, climbed 0.02 percent to 25.05 yuan.
BEIJING, Jan. 17 (Xinhua) -- Wu Di, working as a secretary at a department at the elite Peking University, has to sacrifice privacy for lower rent.She now shares one room of a two-bedroom apartment, furnished with two single beds, and splits the monthly rent of 1,500 yuan (224 U.S. dollars) with a female friend.Wu moved to the new apartment two weeks ago. She used to share a two-bedroom apartment with a family of three, after she graduated from college in June 2010."I paid 1,250 yuan monthly. It was too much for me as I only earned 3,000 yuan a month," said Wu. "Besides, the family next door was very noisy."Although the current rent relieved her financial difficulty a bit, she hoped to pay less."Nearly one-third of my salary goes to rent. I am always very careful about spending money," she said.A survey done by the China Youth Daily Survey Center in December last year showed that 81.6 percent of 4,060 surveyed tenants around China thought that their rent had increased, and 80.6 percent said the soaring rent has greatly affected their lives.More and more young, white-collar Chinese have found themselves in an embarrassing situation: they have to bear a heavy financial burden from soaring rent and housing prices while not qualifying to enjoy preferential policies the government offers to low-income people, such as low-rent apartments.Lu Wei, a programmer working at a leading portable website, witnessed the housing rent increasing over the past four years."It would cost nearly 1,000 yuan less per month for a midium-decorated two-bedroom apartment in 2006," he said, now sharing a two-bedroom apartment with a friend near Beijing's downtown.Liu Qingzhu, research fellow with the Chinese Academy of Social Sciences, argued that housing rent has taken up too much of young people's income."Spending one-third or even a half of their income in housing rent is too much. They need money to do many other things, such as purchase decent clothes, study and for entertainment," Liu said.Also, rent is not the only thing troubling young tenants.During his four-and-a-half-year stay in Beijing, Lu has moved into new apartment five times.

BEIJING, Jan. 15 (Xinhua) -- Qiushi, or "Seeking Truth," the official magazine of the Communist Party of China (CPC) Central Committee, will publish an article by senior CPC leader Zhou Yongkang on Sunday. In the article, Zhou, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, called for an education and practice campaign in 2011 to foster a politically steadfast, professionally competent and impartial law-enforcement force with a superior work style. Zhou is also the secretary of the Commission for Political and Legal Affairs of the CPC Central Committee.
NAIROBI, Dec. 20 (Xinhua) -- Jointly set up by China and Africa in October 2000, the Forum on China-Africa Cooperation (FOCAC) has made abundant achievements in the last decade, boosting the development of the new type of China-Africa strategic partnership in an all-round and tangible way.The FOCAC, a collective consultation and dialogue mechanism between China and African countries, is the first of its kind in the history of China-Africa relations. It is a major future- oriented move taken by both sides in the context of South-South cooperation to seek common development in the new situation.Besides four ministerial meetings, the forum held a summit in November 2006 in Beijing, when Chinese President Hu Jintao and his African counterparts agreed unanimously to building "a new type of strategic partnership featuring political equality and mutual trust, economic win-win cooperation and cultural exchanges". It is an important milestone and beacon for the China-Africa relation development in the new times. The Chinese government has fully implemented the eight initiatives of assistance developed at a series of ministerial conferences and particularly at the Beijing Summit. Moreover, a new set of eight initiatives has been launched since the 4th Ministerial Conference of FOCAC last year.With a prosperous FOCAC, China-Africa relations registered considerable progress in all sectors. Over the past 10 years, mutual political trust had continued to deepen between China and Africa, practical cooperation had progressed on multiple fronts and exchanges and mutual learning had intensified, noted Chinese Vice President Xi Jinping, addressing a seminar marking the 10th anniversary of FOCAC last month in Pretoria, South Africa.HIGH LEVEL OF MUTUAL TRUSTChina is the largest developing country while Africa is the continent with largest number of developing countries. The population of the FOCAC's member states accounts for around one third of the world's total. The forum, initially launched to further strengthen the friendly relations between the two sides, and jointly meet the challenges of the new era, have attracted the attention of the whole world since 2000.The forum witnessed the most frequent high-level contacts and personnel exchanges between China and Africa. During the decade, Chinese President Hu Jintao paid six visits to Africa. The two sides supported each other on major international issues and bilateral issues, and coordinated more closely in international affairs. With its contribution, China-Africa relations have entered a new stage of fast, comprehensive and stable development.The first FOCAC ministerial conference, held in Beijing in October 2000, was aimed at addressing globalization and enhancing cooperation between China and African countries.To strengthen the FOCAC mechanism and better implement its follow-up actions, the Chinese side established its FOCAC Follow- Up Committee in December 2001, which is composed of senior officials from 21 ministries, state commissions and agencies. In December 2003, the second ministerial conference was convened in Addis Ababa, capital of Ethiopia. The third ministerial meeting and a summit was held in November, 2006 in Beijing. And the fourth ministerial meeting was held in the Egyptian resort of Sharm el- Sheikh on Nov. 8-9, 2009.During its development, the forum has formed into a multi-level dialogue mechanism between ministers, senior officials etc., and a consultation platform for its members' leaders, foreign ministers and African ambassadors to China. The two sides held collective dialogue, planned for the future development of China-Africa relations within the forum. Contacts between their parliaments, political parties and local authorities have also deepened.The forum has creatively determined the consensus reached by two sides on the form of official documents, such as the Beijing Declaration and the Program for China-Africa Cooperation in Economic and Social Development, adopted in 2000, and the Sharm el- Sheikh Declaration and Sharm el-Sheikh Action Plan, adopted in 2009. In such way, the forum not only consolidated the results of Sino-African exchanges over the past more than half a century, but also laid a more solid foundation for mutually beneficial cooperation between China and Africa.Through the years, China has always uphold the concept of non- interference in other countries' internal affairs, and do not seek to export its values and development models to African countries, but to help them address food security, health care, education and other issues with numerous reconstruction projects, donations, personnel training programs, preferential loans and debt relief.At the same time, the initiatives of each ministerial meetings are innovative and with continuity. The proposed objectives of these meetings can be completed on schedule or even ahead of time. This demonstrates China, as the largest developing country and a responsible country, is greatly concerned on Africa's development and the growing China-Africa strategic mutual trust.On the twentieth session of the World Economic Forum on Africa, held in Tanzania, 2010, the African representatives generally agreed that the strategic interests of China and Africa had become increasingly inseparable. The bilateral relations between China and Africa are evolving to a real win-win partnership.
GUIYANG, Dec. 5 (Xinhua) -- At least six people were killed and 34 others injured in an explosion that ripped through an Internet cafe in southwest China's Guizhou Province Saturday night, according to local police.The explosion occurred at around 10:30 p.m. in an Internet cafe in the downtown area of the Kaili City of Miao-Dong Autonomous Prefecture of Qiandongnan, said Guizhou's provincial public security department.Victims have been pulled out of the debris and the injured rushed to hospitals, said the department.Rescue workers at the scene said the powerful blast had turned the cafe into "complete ruins" and also destroyed windows of nearby residential buildings.The police are investigating the cause of the explosion and search and rescue work is still underway.
来源:资阳报